Global banks eschew risk as they navigate Russia sanctions quagmire, Reuters, 2 March 2022

Faced with an unprecedented level of sanctions on Russia, global banks are taking a dim view of business with all Russian entities and dropping clients if there is even a slight doubt on their ties to that country, said bankers and lawyers...

To avoid falling foul of the rules and having assets and capital ensnared by new curbs, banks are adopting extreme caution in all of their dealings with Russian entities, actions that will likely exacerbate global trade disruptions, said bankers and lawyers.

A senior Hong Kong-based Asia trade finance banker with a global lender said his compliance colleagues are asking more questions even if a financing deal involves a non-sanctioned Russian entity, directly or indirectly...

Societe Generale SA and Credit Suisse Group AG have stopped financing commodities trading from Russia, Bloomberg reported on Sunday.

State Bank of India, the country's top lender, will not process any transactions involving Russian entities subject to international sanctions imposed on Russia, Reuters reported on Monday...