Lagatar24 Desk
New Delhi, Feb 28: The Russian currency ruble fell about 30% against the dollar on Monday after world powers imposed new, tougher sanctions on Russia in response to its invasion of Ukraine.
According to Bloomberg News, the ruble was trading at 114.33 per dollar in offshore trading, down 27 percent.
The United States and the European Union announced that some Russian banks would be removed from the international bank payments system SWIFT, with Russian President Vladimir Putin and Foreign Minister Sergei Lavrov being singled out. All transactions with Russia’s central bank were likewise prohibited.
Meanwhile, the G7 countries — Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States — warned that if Russia did not stop its operation, they would “take further steps” to add to the sanctions currently in place.
