Overview
Bloomberg BNA quoted Ed Krauland in a September 12 article titled “US Sanctions Spook Russian Banks Funding Arms Buildup.” The article discusses the new US sanctions law that threatens to cut off a vital channel for Russia’s funding of its massive defense buildup. Officials in the government and state banks are reportedly looking for ways to get around the restrictions or minimize their impact on the funding.
Mr. Krauland says that while the defense lending is clearly a priority for the Kremlin, banks that continue it “are running risks under the US sanctions.” He adds, “It’s a difficult situation.”
The full article can be read at Bloomberg BNA (subscription required).
