US takes aim at financial institutions with new Russia sanctions authority

Seizure of Frozen Assets , Could Sever Diplomatic Ties , Between Russia and the US. 'Newsweek' reports that diplomatic relations between the United States and Russia could be headed toward a major escalation. . 'Newsweek' reports that diplomatic relations between the United States and Russia could be headed toward a major escalation. . According to a senior Russian diplomat, the confiscation of frozen Russian assets could sever diplomatic relations between Washington and Moscow. According to a senior Russian diplomat, the confiscation of frozen Russian assets could sever diplomatic relations between Washington and Moscow. Sergei Ryabkov, Russia's deputy foreign minister, made the remarks in an interview with Russian state-run news agency Interfax. Sergei Ryabkov, Russia's deputy foreign minister, made the remarks in an interview with Russian state-run news agency Interfax. As for the trigger for a possible round of confrontation with the potential for a breakdown in relations, the trigger could be confiscation of assets, further escalation of military escalation, and much more. , Sergei Ryabkov, Russia's deputy foreign minister, via 'Newsweek'. As for the trigger for a possible round of confrontation with the potential for a breakdown in relations, the trigger could be confiscation of assets, further escalation of military escalation, and much more. , Sergei Ryabkov, Russia's deputy foreign minister, via 'Newsweek'. Ryabkov's remarks came after reports that the Biden administration is considering the seizure of over $300 billion in Russian central bank assets. . According to those reports, the confiscated funds would then be handed over to aid Ukraine in its war effort. 'Newsweek' reports that relations between the U.S. and Russia have become increasingly strained since the invasion of Ukraine in February of last year. I wouldn't go into negative forecasts here. I'm just saying all this so that there is a clear understanding—we are ready for any scenarios, and the United States should not have the illusion, if it exists, that Russia, as they say, holds on to diplomatic relations with this state [the United States] with both hands. , Sergei Ryabkov, Russia's deputy foreign minister, via 'Newsweek'. According to a December 20 'New York Times' report, the Biden administration, along with other G7 nations, is exploring options for using the frozen Russian assets. . According to a December 20 'New York Times' report, the Biden administration, along with other G7 nations, is exploring options for using the frozen Russian assets. . 'Newsweek' points out that U.S. Treasury Secretary Janet Yellen previously stated that the seizure of those assets would not be , "something that is legally permissible in the United States."