INSUBCONTINENT EXCLUSIVE:
United States has blocked Americans from engaging in any transactions involving Russia's central bankWASHINGTON: The United States on
Monday blocked Americans from engaging in any transactions involving Russia's central bank, National Wealth Fund and finance ministry in
further punishment of Moscow over its invasion of Ukraine.The fierce economic sanctions imposed by the United States and its allies on
Russia's central bank and other key sources of wealth are likely to drive Russian inflation higher, cripple its purchasing power and drive
week imposed several rounds of sanctions targeting Moscow, including against Russian President Vladimir Putin and Russia's largest
lenders, after the country's forces invaded Ukraine."This is a vicious feedback loop that's triggered by Putin's own choices and
Belarusian border on Monday, as Russia faced deepening economic isolation four days after invading Ukraine in the biggest assault on a
sovereign wealth fund, the Russian Direct Investment Fund.The United States and its allies announced they would take action against Russia's
central bank on Saturday, in a move that experts saw as a significant escalation of the West's sanctions against Moscow just days after
States in a move that will hinder Russia's ability to access hundreds of billions of dollars in assets."Mr Putin's war chest of $630
billion of reserves only matters if he can use it to defend his currency, specifically by selling those reserves in exchange for buying the
rouble," the first official said."After today's action, that will no longer be possible."The Treasury issued a general license alongside
Monday's action authorising certain energy-related transactions until June 24.President Joe Biden's administration has been concerned
that its sanctions could raise already high gas and energy prices and has taken steps to mitigate that.Officials on Monday also warned that
the United States would not hesitate to level more consequences against Russia and that it was also watching Belarus's involvement
closely, adding that the strong Russian ally could face more consequences if it continues to aid Moscow in the invasion.
