U.S. Warns Foreign Banks They Could Face Russia Sanctions

null By Richard VanderfordDec. 22, 2023 3:46 pm ETShareResizeListen(1 min)The Treasury Department said banks should take steps to screen customers with possible links to Russia. Photo: Jon Elswick/Associated PressA U.S. executive order authorizes possible new sanctions targeting Russia, including against foreign banks that help finance the country’s military-industrial base.The executive order, issued Friday by President Biden, allows foreign banks facilitating significant transactions for Russia to be directly sanctioned, including with measures that block their access to correspondent banks in the U.S.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Sponsored OffersTurboTax: TurboTax Live Assisted Basic. File 100% free with expert help.The Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: Get 20% Off H&R Block tax software productsTop Resume: Top Resume Coupon: 10% Off professional resume writingeBay: Unlock 10% O

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U.S. Warns Foreign Banks They Could Face Russia Sanctions

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Richard Vanderford

Dec. 22, 2023 3:46 pm ET

The Treasury Department said banks should take steps to screen customers with possible links to Russia. Photo: Jon Elswick/Associated Press

A U.S. executive order authorizes possible new sanctions targeting Russia, including against foreign banks that help finance the country’s military-industrial base.

The executive order, issued Friday by President Biden, allows foreign banks facilitating significant transactions for Russia to be directly sanctioned, including with measures that block their access to correspondent banks in the U.S.