Despite the ongoing proxy war between the U.S. and Russia in the Ukraine, as well as financial tensions that have been simmering between the two nations for quite some time, I was still surprised to see the following headline from Reuters: Russia Mulls Barring Firms from Using Foreign-owned Banks.
If this actually happens, it would be a very big deal, and certainly an escalation in the friction between these two geopolitically crucial nations. We learn from Reuters that:
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