A number of US banks have resumed facilitating Russian debt transactions in recent days after receiving a green light from Washington, Reuters reported yesterday, citing banking documents.
According to the agency report, Wall Street giants such as JP Morgan, Bank of America, Citigroup, Deutsche Bank and Barclays are “cautiously returning to the Russian government bond market and (Russian) corporate bonds.
The report comes after the US Treasury Department published guidelines last July to allow US banks to conduct, liquidate and settle transactions in Russian securities.
Prior to this, most American and European banks stopped working with Russian securities after the US Treasury imposed a ban on transactions with Russian assets as part of economic sanctions against Moscow.
A spokesman for investment bank Jefferies Financial said it is “working within the guidance of global sanctions to ease the needs of clients in dealing with this difficult situation,” while a source at Deutsche Bank said the financial institution deals with Russian securities on a case-by-case basis. case basis.
Source: Reuters