Bank Rossiya, Kremlin's Favoured Bank, To Be 'Frozen Out Of The Dollar' -- The Guardian
US says Rossiya is 'personal bank' for more than a dozen Russian government officials and powerful business leaders
Bank Rossiya, the Russian bank best known for its close ties to top Kremlin figures, is to be "frozen out of the dollar", according to US officials, as part of the new wave of sanctions from Washington.
Shortly after Barack Obama signed off the measures on Thursday it emerged that rating agency Standard & Poors had warned on the outlook for the Russian economy amid escalating tensions over Ukraine.
"Heightened geopolitical risk and the prospect of US and EU economic sanctions following Russia's incorporation of Crimea could reduce the flow of potential investment, trigger rising capital outflows, and further weaken Russia's already deteriorating economic performance," S&P analysts said.
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My Comment: This is where U.S. sanctions against Russia becomes personal. Not surprising .... the blow-back and consequences are now being assessed by U.S. bankers who are deeply worried on where this is all heading .... Banks must brace for Russia sanctions row, warn US industry officials -- Reuters
My prediction .... expect pressure to be quietly put on the Fed and the U.S. Treasury to tell the White House to back-off.
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from the Voice of Russia--
Russia's Putin orders to keep his salary at US-sanctioned Rossiya bank
Russian President Vladimir Putin will open an account at the Rossiya bank which was put on the US sanctions list due to the events in Crimea. "I have already said that I intend to open my personal account there. Moreover, I have instructed the [Kremlin] Affairs Management Department to transfer my salary to it," Putin told reporters on Friday.
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