West unleashes SWIFT bans and more crushing sanctions on Russia

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A Ukrainian soldier walks past the wreckage of a burning military truck, on a street in Kiev, Ukraine, Saturday, February 26, 2022. Russian troops stormed the Ukrainian capital on Saturday and street fighting broke out as that city officials were urging residents to take shelter. (AP Photo/Efrem Lukatsky)

The United States and its European allies have agreed to impose the most potentially crippling sanctions yet on Russia for its invasion of Ukraine.

New measures announced on Saturday include restrictions on Russia’s central bank and cutting off some banks from the SWIFT global financial system.

Western officials say the central bank’s actions will likely send the Russian ruble into a tailspin.

And analysts are predicting spiraling inflation and bank runs as a result.

The new measure, pressed as Russian forces move on the Ukrainian capital, could extend the pain of Western sanctions to ordinary Russians far more than previous ones.

(Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

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