Global Banks Poised for Turmoil as West Hits Russia With Sanction

The U.S. and Britain are aiming to throttle Russia’s access to foreign capital

But things could get complicated for the entire global financial system.

Global banks are bracing for the ripple effects of harsh new financial and economic sanctions against Russia

 President Biden announced that the United States would impose sanctions on Russia’s main development bank

He said the United States was also preparing to impose sanctions on Russian elites and their family members.

The sanctions will sever the state-backed banks from the United States financial system


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