The United States on February 28 blocked Americans from engaging in any transactions involving Russia's central bank and imposed sanctions on a key Russian sovereign wealth fund, the U.S. Treasury Department said. The sanctions also target Russia's National Wealth Fund and its Ministry of Finance, the department said in a statement. 'This action effectively immobilizes any assets of the Central Bank of the Russian Federation held in the United States or by US persons, wherever located,' the Treasury said of the measure taken in coordination with Western allies. It will severely limit Russia's ability to defend the ruble and prop up its economy. Jake Cordell reports from Moscow.
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