Washington is working on an option that provides for the complete financial isolation of Russia from the global financial system in the event of the Russian invasion of Ukraine, U.S. Undersecretary of State for Political Affairs Victoria Nuland said at a hearing in the U.S. Senate on Tuesday.

Nuland said at the Senate Foreign Relations Committee, answering a question about possible measures against Russia, that they had been discussing the measures that would be tantamount to complete financial isolation of Russia from the global financial system with all the consequences for Russian business and people, for their ability to travel and for trade.

She added that all possible options are being considered.