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Global economiesFebruary 26

US moves closer to sanctioning international banks over Russia links

In a new package of sanctions following the death of Alexei Navalny, Washington is reiterating its threat to target foreign banks over links to Russia’s war effort
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US moves closer to sanctioning international banks over Russia linksImage: Andrey Rudakov/Bloomberg

Washington has moved a step closer to imposing “secondary sanctions” on international financial institutions linked to Russia’s war effort, as the conflict in Ukraine enters its third year.

The US government on Friday unveiled the largest sanctions package of the conflict thus far against more than 500 targets, aimed at “impos[ing] additional costs for Russia’s repression, human rights abuses, and aggression against Ukraine”.

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John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.
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