
In a significant move to counter Russian financial maneuvers amid ongoing sanctions, the United States initiated a series of actions starting with the freezing of $5 billion of the Russian central bank's U.S. assets on 2024-03-18. This unprecedented step was aimed at preventing Moscow from using its foreign reserves to support the Russian ruble. As Western countries attempted to isolate Russia from the global financial system, Moscow sought various workarounds to maintain its financial stability. However, recent efforts by Washington to tighten these financial restrictions seem to be effective as of 2024-03-19. Reports indicate that the avenues Russia has been exploiting to bypass international sanctions and maintain access to the global banking system are gradually closing. This includes measures to prevent public disclosure by banks regarding their international partners and settlement mechanisms, signaling a concerted effort to limit Russia's financial flexibility.
The banking loopholes Russia has used to stay afloat are closing https://t.co/gvjoNxqWqd
Russia’s Backdoor to the Global Banking System Is Slamming Shut. @WSJ https://t.co/1F5WZ06z0a
Russia’s Backdoor to the Global Banking System Is Slamming Shut - WSJ https://t.co/lYpqv5zh2F


