The United States and the European Union want to isolate Russia’s economy from the rest of the world.
The Russian ruble depreciated by about 30% on Monday (February 28) after international powers imposed new and tougher sanctions on Moscow following the occupation of Ukraine.
Read this tooUkraine: Japan makes painful transition to G7 embargo
The ruble fell 27% to 114.33 against the dollar in international trade, according to Bloomberg News. The United States and the European Union have said Swift will exempt some Russian banks from the international banking payment system, targeting Russian President Vladimir Putin and his foreign minister, Sergei Lavrov.
Read this tooWesterners agree on Russia’s economic sanctions
They banned transactions with the Central Bank of Russia. The G7 countries – Canada, France, Germany, Italy, Japan, the United Kingdom and the United States – have warned that they will take over. “Other steps” In addition to the sanctions already announced if Russia does not end its military operations.
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