The U.S. administration has prepared an initial package of sanctions against Russia, that includes barring U.S. financial institutions from processing transactions for major Russian banks, Reuters reported citing sources today. According to the British news service, the measures, which will only be implemented if Russia invades Ukraine, aim to hurt the Russian economy by cutting the “correspondent” banking relationships between targeted Russian banks and U.S. banks that enable international payments, Reuters says.
The final list of banks subject to sanctions is yet to be formed, but sources believe that VTB, Sberbank, VEB.RF and Gazprombank are likely to be included in it. In addition, the United States will impose sanctions against Russian individuals and entities, which include freezing assets and banning any transactions.
The White House and the U.S. Treasury declined to comment.
