Business Standard

No Russian financial institution safe if 'invasion' of Ukraine proceeds: US

A senior US administration official made the remark at a press briefing


(Photo: Reuters)

No Russian financial institution can feel safe if the "invasion" of Ukraine proceeds, with the United States standing ready to take further action against the largest Russian banks, including Sberbank and VTB, a senior US administration official told a press briefing.
"No Russian financial institution is safe. If this invasion proceeds, we are ready to press a button to take further action on the very largest Russian financial institutions, including Sberbank and VTB, which collectively hold almost $750 billion in assets or more than half the total in Russia as a whole," the official said on Tuesday.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Feb 23 2022 | 6:50 AM IST

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