To Punish Putin, the World Turned Finance Into a Weapon of War.

(Bloomberg Businessweek) -- The European Union, the U.S., and a handful of America's allies in Asia have responded to Russia's invasion of Ukraine with financial sanctions unprecedented for a target Russia's size. To halt the ruble's free fall without depleting its greatly diminished stock of foreign reserves, Russia's central bank instead hiked its benchmark interest rate to 20%. [Extracted from the article]