Banks across the world are reviewing all trade and commodities transactions involving Russia as the nation’s economy becomes a “massive moving target” in the crosshairs of sanctions enforcers in the US, Asia and Europe. Governments, including those of the US, UK, EU, Japan, Singapore, South Korea and Australia, have now imposed, or vowed to impose, .
Major Russian Banks Blocked from the U.S. Financial System. Six major Russian banks VEB, Promsvyazbank PSB, VTB Bank, Otkritie, Sovcombank, and Novikombank were named Specially Designated Nationals SDNs, effectively cutting them off from any activity.
MOSCOW, Feb. 9, 2022 /PRNewswire/ UnionPay International ("UPI"), a leading global payment services provider, in cooperation with Sovcombank, one of the largest banks in Russia in terms of