#RussiaUkraine: three tools to strangle the economy
"The sanctions imposed on Russia are unprecedented and aim to strangle the Russian economy by preventing it from accessing international sources of financing," Carlo Altomonte, professor of European economic policy at Bocconi University, explains in this video. "Three main tools are used: blocking Swifts; banning the country's top two banks from accessing dollar liquidity; and blocking central bank assets held with European countries and the United States, which amount to about 40% of these assets." The Russian economy, with the application of these sanctions, thus risks a series of defaults.