Overview
The Wall Street Journal’s Morning Risk Report quoted Meredith Rathbone in a June 24 article titled “Foreign Banks Fall Under US-Russia Sanctions.” The article discusses a new sanctions rule that allows President Obama to punish banks outside the US if they help finance blacklisted Russian individuals or companies.
Ms. Rathbone tells The Wall Street Journal that the fuzziness of potentially expanded sanctions could have a “chilling effect” on foreign banks that have relationships with Russia. “Many non-US banks are already deciding to stay away from specially designated nationals (SDNs), but those that would engage with SDNs would now have an additional disincentive,” she says.
The full article can be read at The Wall Street Journal (subscription required).
