The new US new “strangulation” sanctions on foreign exchange are proving to be increasingly effective, disrupting Russia’s payments to “friendly countries” that have led to sharp falls in export volumes this year. The US changed its tactics when it released a set of smart sanctions in December, part of which specifically targeted banks amongst Russia’s allies that led to Chinese and Turkish banks cutting off ties with their Russian partners. Trade with these countries was immediately hit. Office of Foreign Assets Control (OFAC) extended those sanctions to what The Bell has dubbed “strangulatio…