U.S. Weighs Sanctions on Russia’s Central Bank (3:15 p.m.)

The U.S. is weighing sanctions on Russia’s central bank, according to people familiar with the matter, a move that would target much of the $643 billion reserves that Putin had amassed ahead of the invasion.

A final decision hasn’t been made but the Biden administration is urgently considering all options in an attempt to deter Putin from further devastation in Ukraine, the people said, speaking on the condition of anonymity. The U.S. aims to make each move in conjunction with allies across Europe for maximum impact, they said. It’s unclear how advanced those discussions are.