SWIFT sanctions seek to block Putin from using reserves for Ukraine attack - U.S. official
Putin's government is getting kicked off the international financial system - File Pic
WASHINGTON: The United States and its allies are "disarming Fortress Russia" with new sanctions that cut off key banks from the SWIFT financial transactions network and target Russia's central bank, a senior Biden administration offial said on Saturday.
The actions are aimed at preventing Russian President Vladimir Putin from using $630 billion in central bank foreign currency reserves in the invasion of Ukraine and to defend a plunging rouble.
"Putin's government is getting kicked off the international financial system," the official said.
READ MORE: Latest development on Ukraine-Russia
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