Biden Signs Bill Banning US Transactions Of IMF Reserve Assets Held By Russia, Belarus

WASHINGTON (Pakistan Point News / Sputnik - 05th October, 2022) US President Joe Biden signed legislation that prohibits the US Treasury Department from engaging in transactions that involve International Monetary Fund reserve assets, known as special drawing rights, held by Russia and Belarus, the White House said in a press release.

"On Monday, October 4, 2022, the President signed into law: H.R. 6899, the 'Russia and Belarus SDR Exchange Prohibition Act of 2022,' which prohibits the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights held by Russia or Belarus," the release said on Tuesday.