SANCTIONS: GUERILLA WARFARE
Efforts to reach a peace deal between Ukraine and Russia continue. But western businesses are finding themselves hit increasingly hard by Russia-related sanctions – from both sides.
Since the US and EU moved to "sectoral" sanctions in late July – to target not just cronies of President Vladimir Putin but whole sectors of Russia's economy – western businesses have been suffering collateral damage.
Banning some of Russia's largest state-controlled banks, oil companies and defence contractors from raising western financing has hit the fee income of western banks. This effect has been exacerbated by "self sanctions",…
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