A dedicated international task force focused on executing sanctions against Russia has blocked or frozen more than $30 billion worth of sanctioned Russian assets in financial accounts and economic resources, and immobilized approximately $300 billion worth of Russian Central Bank Assets, according to a press release issued by the Treasury Department.
Russia’s efforts to disengage with the global economy and isolate itself may have helped minimize the initial shock from the most recent sanctions and could explain why Putin has yet to back down from the Ukraine invasion.
The Treasury Department’s Office of Foreign Assets Control sanctioned Transkapitalbank, a Russian commercial bank, and its subsidiary, Joint Stock Company Investtradebank for sanctions evasion activity connected to the recent Russian invasion of Ukraine.
Chair of the Financial Stability Board sent a letter to G20 finance ministers and central bank governors addressing financial stability issues caused by the invasion of Ukraine.
Top economists from the largest U.S. banks expect credit market conditions to weaken amid high inflation, according to the American Bankers Association’s Credit Conditions Outlook released today.
Federal Open Market Committee members said monthly reductions in securities holdings should be capped at about $60 billion for Treasury securities and about $35 billion for mortgage backed securities.
With the Russian invasion of Ukraine still ongoing, the Treasury Department’s Office of Foreign Assets Control today announced additional significant steps to sanction Russian individuals and entities.
A majority of the nation’s small business owners—78%—say they are concerned about the threat of a Russian cyberattack in light of recent news coverage, according to new survey data released by Provident Bank.
Acting Comptroller of the Currency Michael Hsu today told attendees at ABA Risk 2022 that Russia’s invasion of Ukraine could trigger a recession.
As the Office of Foreign Assets Control works to crack down on sanctions evasions networks and technology companies associated with the Kremlin, it announced today that it is designating an additional 21 entities and 13 individuals. It also expanded sanctions authorities to include the Russian aerospace, marine and electronics sector.