Russian Banks Cut Off From SWIFT, Central Bank Reserves Blocked as West Responds

<p><em><span style="font-weight: 400;">This episode is sponsored by</span></em> <a href= "https://nexo.io/?v=t2&utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_jan22"> <em><span style= "font-weight: 400;">Nexo</span></em></a><em><span style= "font-weight: 400;">,</span></em> <a href= "https://www.getarculus.com/"><em><span style= "font-weight: 400;">Arculus</span></em></a> <em><span style= "font-weight: 400;">and</span></em> <a href= "https://ftxusapp.onelink.me/LKX9/breakdown"><em><span style= "font-weight: 400;">FTX US</span></em></a><em><span style= "font-weight: 400;">.</span></em></p> <p><span style="font-weight: 400;">Today on “The Breakdown,” NLW looks at what we learned over the weekend about the U.S. and European Union’s response to the Russian invasion of Ukraine. The West significantly increased its economic pressure on Russia, removing some banks from SWIFT as well as freezing the foreign reserve assets of Russia’s central bank. As Monday dawned, the Russian ruble was sent tumbling, major Western corporations were withdrawing their investments from Russia, and Putin and Russia began their economic counters as well.  </span></p> <p><em><span style="font-weight: 400;">-</span></em></p> <p><a href= "https://nexo.io/?v=t2&utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_jan22"> <strong><em>Nexo</em></strong></a> <em><span style= "font-weight: 400;">is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at</span></em> <a href= "https://nexo.io/?v=t2&utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_jan22"> <em><span style= "font-weight: 400;">nexo.io</span></em></a><em><span style= "font-weight: 400;">.</span></em></p> <p><em><span style="font-weight: 400;">-</span></em></p> <p><a href= "https://www.getarculus.com/"><strong><em>Arculus</em></