US and UK ban transactions with Russia's central bank

The US and Britain have also imposed sanctions against its Central Bank (CBR), the National Wealth Fund and the finance ministry after major Russian banks were pulled out of the international banking system SWIFT. At the same time, Switzerland and South Korea have also joined countries that have excluded Russian banks from SWIFT. South Korea has also announced a ban on the export of certain strategic goods to Russia.

Officials said that sanctions imposed by the US and its allies and Europe will increase inflation in Russia, reduce its purchasing power and investment will also not happen. Russia's central bank in the US will have billions of dollars worth of assets confiscated and will not be able to use its billions of dollars of currency reserves.

South Korea's foreign ministry condemned Russia's attack on Ukraine, announcing its country's decision to exclude Russian banks from SWIFT. He said that the export of important goods to Russia would be banned.