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The EU has sanctioned fewer Russian banks than the US and could do more
The European Union (EU) responded vigorously to Russian President Vladimir Putin's invasion of Ukraine, taking steps to disrupt the Russian economy and financial system. But Europe has yet to join the United States in sanctioning Sberbank—Russia's largest bank—and it should go even further and expand sanctions to cover several other large institutions. EU blocking sanctions, which prohibit transactions between the sanctioned banks and entities subject to EU jurisdiction, have been applied to 6 Russian banks and one major nonbank financial institution (VEB.RF), covering just 26 percent of Russia's total banking ... (full story)
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