The United States may impose sanctions against the largest financial institutions and state companies of the Russian Federation

The US authorities, if necessary, will impose sanctions against the largest financial institutions and state-owned companies of the Russian Federation. Duleep Singh, Deputy Director of the National Economic Council of the White House, Deputy Assistant to the President of the United States for National Security, who oversees global economic issues, told reporters about this, according to TASS.

“The price for the Russian Federation will be huge: both for its economy and for its strategic position in the world. Our financial sanctions were designed to provide immediate costs to the largest financial institutions and state-owned enterprises in Russia,” Singh said.

“We are ready to apply strong export control measures . Financial sanctions and export control measures deprive the Russian Federation of what it needs . Financial sanctions deprive the Russian Federation of foreign capital, and export controls deprive it of critical technological resources,” he added.

According to Singh, possible new Western sanctions against Russia are not aimed at hitting Russia’s energy exports.

“Firstly, our measures are not intended to reduce or damage Russia’s ability to supply the world with energy. Secondly, it would be a big mistake for Putin to use energy exports as a weapon,” he said.

Singh said that the initial package of sanctions against Russia for a possible invasion of Ukraine will most likely not include a cut-off from the SWIFT interbank payment system.

“All options remain on the table,” he said, answering a question about whether the planned sanctions against Russia would affect the SWIFT system. “But you probably won’t see SWIFT-related measures in the initial package.”

Singh said that the package of possible new Western sanctions against the Russian Federation is not yet ready, but its development is almost completed.

“I would say that at this stage we are converging on the final package [санкций], a US administration official said. “And everyone who has worked on sanctions in the EU or the US or in other countries among our allies and partners notes that the unity and level of coordination that we have seen in the past few months is unlike anything else that we have seen.” .