US preparing sanctions that would target Russian banks: Reports

The sanctions would cut the "correspondent" banking relationships between targeted Russian banks (possibly Sberbank, VTB and Gazprombank) and US banks that enable international payments. In addition, certain Russian individuals could be cut off from the US banking system: they would be placed on the Specially Designated Nationals (SDN) list and their US assets would be frozen. 

UK Foreign Secretary Liz Truss said at the Munich Security Conference this past weekend that anti-Russia sanctions, which will be implemented in the event of a Russian "invasion" of Ukraine, would target Russian "oligarchs" and will also make it harder for Russia to access sovereign debt markets. 

Moscow has repeatedly denied Western claims of Russia's alleged preparations for an "invasion" of Ukraine, emphasizing that it is not threatening anyone and at the same time expressing strong concerns over NATO's military activity near the Russian borders. 

Meanwhile, the self-proclaimed republics in Ukraine's southeast have announced the evacuation of their citizens to Russia's Rostov Region amid fears of an attack by Kiev forces and continuing shelling of Donbas.