DECRYPTION – Banks have been particularly targeted by the sanctions, which makes the exchange of funds long, complex and risky.
Whatever their strategic choice – suspension of activity, gradual withdrawal or maintenance – it is becoming more and more complicated for European companies to do business with Russia. This is a direct consequence of the five waves of sanctions taken so far by the European Union with the aim of weakening the Russian economy and isolating it from the rest of the world, at least from the West.
When a French – or European – company wants to receive funds from a Russian client, pay a supplier in Russia or simply transfer money from a subsidiary in Moscow, for example, it must go through a bank. Banking establishments are indeed the nerve center of commerce. This is why they have been particularly targeted by the sanctions. “The ostracization of the Russian banking world complicates the activitieswith the Europeans, summarizes Olivier Dorgans, a lawyer specializing in sanctions at the firm Ashurst.
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The banning of access to several major Russian banks…
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