US hits Russia’s Gazprombank with sanctions

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The story "US hits Russia’s Gazprombank with sanctions" was covered 14 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 14h ago

US hits Russia’s Gazprombank with sanctions - Financial Times

Quick Summary:

After the Nord Stream pipelines connecting Germany to Russia via the Baltic Sea were blown up in 2022, this became one of only two routes by which Russian pipeline gas is exported to Europe.

Russia’s central bank said this month that the payments sanctions had created a “significant” rise in costs and difficulties supplying raw materials by making it difficult for importers to settle transactions.

The Treasury said it viewed joining the Russian payments system “as a red flag and is prepared to more aggressively target foreign financial institutions that take such action”.