What Is the U.S. Going To Do?
On February 24th, President Joe Biden stated that he plans to call “severe actions” against Russia, in order to discourage Moscow to continue its violent actions against Ukraine.
Moreover, the president wants to request the Treasury Department to add at least one of Russia’s largest state-owned banks on the agency’s list for the most severe sanctions, which is known as the S.D.N. list. This means that many of Russia’s business operations will be affected regarding exchanges and commerce.
In addition to that, the Treasury Department has other ways of restricting the country conducted by Vladimir Putin, including adding a bank on the list that might keep it away from doing any transactions that might involve US dollars. There are a lot of international commercial transactions that are done in USD, due to the fact that it is a currency that establishes the global economy.
According to some sources, since the late afternoon of February 24th, Russia’s stock market is approximately 40% down. Besides banks, business people and Russian officials will also be on the sanction list.
Whose side would you choose?
