The US State Department, along with US allies in Europe, are considering the possibility of completely isolating Russia from the global financial system if it attempts to invade Ukraine, he revealed on Tuesday.
Speaking to the US Senate Committee on Foreign Relations, Under Secretary of State Victoria Nuland explored possible ways Washington could punish Moscow for any military incursion.
“What we are talking about would essentially amount to completely isolating Russia from the global financial system, with all the repercussions that this would entail for Russian companies, for the Russian people, for their ability to work, travel and trade,” Nuland said.
She noted that she had presented other diplomatic options that she did not want to mention in a public setting, in a private meeting the day before.
Nuland’s threat comes just a day after the publication of a report by the US news agency Bloomberg, which suggested that Washington could target the big Russian banks and could even disconnect Moscow from the SWIFT banking network.
The undersecretary’s comments were made shortly after talks between Russian President Vladimir Putin and his American counterpart, Joe Biden. The conversation lasted over two hours and saw Biden warning the Russian leader that “The United States and [its] The Allies would respond with strong economic and other measures. in the event of military escalation.
The virtual summit came as tensions remained high on the Ukraine-Russia border. The US-led NATO bloc has warned Moscow that any military aggression against Ukraine will face severe financial measures, while Russia has denied all accusations that it is planning such a maneuver, saying that all movement of troops is an internal matter and without concern. to any other country.