European banks to resume Russian bonds trading - report

Mittwoch, 17. August 2022 16:16

European banks will once again start trading Russian bonds, with UBS, Barclays, and Deutsche Bank allowing their clients to resume trading and sell Russian assets, the Financial Times reported on Wednesday after discussing this matter with people familiar with the topic.

A similar move was previously made by American banks (JPMorgan, Bank of America, Jefferies, and Citigroup) last month as the Treasury’s Office of Foreign Assets Control allowed banks to sell Russian assets in the three-month period starting from July 22. Initially, banks stopped trading Russian debt in June due to sanctions imposed against Moscow amid the situation in Ukraine.

Other European banks, such as Credit Suisse and HSBC, have not yet decided to follow in the footstep of the abovementioned banks, the media reported.

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Baha Breaking News (BBN) / MM