Sanctions applied for $1 trillion of Russian banks’ funds

12:51 - 25.02.2022

February 25, Fineko/abc.az. "I met with my G7 colleagues to discuss the Russian president's attack on Ukraine, and we decided to apply sanctions packages against Russia and other economic measures," ABC.AZ reports, citing U.S. President Joe Biden.

"We are imposing sanctions against Russian banks, which together control about $1 trillion. We’ll cut off the largest Russian bank, which holds more than a third of Russian banking assets, from the American financial system," Biden said.

Sanctions against Russian banks will affect VTB, Sberbank, Alfa-Bank, Otkritie, Gazprombank, Rosselkhozbank, Novikombank, Sovcombank, and Credit Bank of Moscow.

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