WASHINGTON (Pakistan Point News / Sputnik - 08th November, 2022) The Biden administration has quietly asked major US banks to maintain ties with certain Russian companies despite the sanctions regime, Bloomberg reported on Monday.
The US Treasury and State departments have urged behind the scenes major US banks, such as JPMorgan and Citigroup, to keep doing business with certain Russian companies deemed important for strategic reasons, the report said.
The United States wants to minimize the unintended impacts of its anti-Russia sanctions regime could have on the global economy, the report added.
JPMorgan and Citigroup did not immediately respond to Sputnik for comment on the matter.
On February 24, Russia launched a special military operation in Ukraine after the Donetsk and Luhansk people's republics appealed for help to defend them from intensifying attacks by Ukrainian troops. The United States and its allies have imposed comprehensive sanctions against Russia, targeting the financial, energy, defense and other sectors, as well as individuals and entities.
