The latest barrage came Saturday, when the United States, the European Union, the United Kingdom and Canada said they would expel some Russian banks from SWIFT, a global financial messaging service, and “paralyze” the assets of Russia’s central bank. Fear of what sanctions might do sent Russian stocks crashing 33% […]
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Banks betting on Russia face a new test of their appetite
Western banks are accustomed to political turbulence in Russia. Société Générale, which first set up in the country 150 years ago, was forced to take a 56-year hiatus after the Bolshevik Revolution in 1917. Since its return, the French lender has navigated the end of communism, Russia’s 1998 sovereign default […]