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BlackRock, Vanguard Grapple With Sanctions on Russian Securities

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Reuters

Sanctioned Russian banks face international payment problems

Clients of some Russian banks under western sanctions will no longer be able to use their cards abroad or with mobile payment systems from Apple and Google, the central bank said on Friday, as it stepped up support for banks. U.S., EU and British leaders targeted Russian banks with sanctions designed to punish Moscow for sending troops to Ukraine, a move that drew global condemnation and sent the rouble sinking to record lows. The central bank said the debit and credit cards of sanctioned banks, which it listed as VTB, private lender Sovcombank, Novikombank, Promsvyazbank and Otkritie Bank, would keep working in Russia without restrictions.

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