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Greater than 30 nations, together with the U.S., Japan and members of the European Union, have imposed far-reaching financial sanctions in opposition to Russia in response to the conflict in Ukraine.
Main Russian banks have been excluded from the SWIFT system, and of the Russian central financial institution’s $640 billion international alternate reserve, the roughly $300 billion in reserves held or managed as {dollars}, euros or yen by the central banks of the aforementioned nations have been frozen. International locations have additionally moved to restrict as a lot as doable imports of Russian oil, gasoline and coal and revoked Russia’s most-favored nation commerce standing.
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