West seeks to cripple Russian banks, currency in Ukraine sanctions

The headquarters of SWIFT, Society for Worldwide Interbank Financial Telecommunication, in La Hulpe, Belgium near Brussels

Activists protest against Russia's invasion of Ukraine and hold a sign reading "Ban Russia From SWIFT" during a rally across from the White House in Washington on February 25, 2022

The United States and Western allies sought to cripple Russia's banking sector and currency Saturday with an extraordinary set of sanctions punishing Moscow's invasion of Ukraine.

The US official said more sanctions were being considered and that all depended on Russia's next moves in Ukraine.