Draghi a quietly essential participant in imposing sanctions on Russia

The single most painful sanction imposed on Russia has been the joint western transfer to dam the Russian central financial institution’s entry to its overseas foreign money reserves.

In actions that now appear prescient, Russia had labored to construct up an estimated $600 billion (€552 billion) in overseas foreign money reserves since its annexation of Crimea in 2014, as a bulwark in opposition to the impact of any sanctions to come back.

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