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US bans dollar supply to Russia to increase pressure on the invading country
The We For News reported, the United States announced on Friday a ban on the exportation, re-exportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, of US dollar-denominated banknotes to the Russian government or any person located in Russia.
This comes as the White House is ramping up economic pressure on Russia over the war in Ukraine.
According to the We For News, this presents a serious problem for Russia, which is a major oil exporter, as most oil contracts are settled in US currency.
US consumer prices increase the most since 1982
On March 2, the European Union also banned the export and import of euro banknotes to Russia. An exception was made only for individuals arriving in Russia, diplomatic missions, and international organizations with legal immunity.
Source: wefornews
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