Russian Sanctions and the Banking Sector

Western allies have imposed restrictive measures on Russian banks and threatened harsher sanctions the finance sector since annexation of Crimea in 2014. However, this did not impede sanctioned reporting record profits, nor deter Russia from invading Ukraine 24 February 2022. Although sanctions’ full effectiveness remains question, impact Russia's invasion has only caused a retreat foreign mainland Russia, but also ended international ambitions largest Europe beyond.