Published

U.S. sanctions deepen Russia's economic woes: banking sector and global trade hit hard

  • On November 21, the U.S. Treasury Department expanded sanctions against Russia, targeting more than 50 Russian banks and over 40 Russian securities registrars.
  • A central target of these sanctions is Gazprombank, a crucial financial hub for Russia's international trading operations.
  • The U.S. Sanctions are hampering Russia's ability to sell energy and are forcing the country away from global trade.
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