Biden Says New Russian Sanctions Target Five Major Banks

The video discusses the imposition of strong sanctions on Russia by the United States and its allies. These sanctions aim to severely impact the Russian economy while minimizing effects on the U.S. and its partners. A global coalition, including the European Union and G7 countries, supports these measures. The sanctions target Russia's ability to engage in the global economy, affecting its currency, stock market, and banking sector. Major Russian banks and elites are sanctioned, freezing their assets in the U.S.

How have the sanctions affected the Russian economy, particularly its currency?

What actions have been taken against Russian banks as part of the sanctions?