Major U.S. banks revive Russian bond trading to dispose of assets – media reports

16 August, 01:38 PM
Some banks resumed trading on Wall Street (Photo:REUTERS/Carlo Allegri)

Some banks resumed trading on Wall Street (Photo:REUTERS/Carlo Allegri)

Several major U.S. banks have recently revived trades in Russian bonds, the Reuters news agency reported on Aug. 15.

It is noted it would give investors another chance to dispose of assets widely seen in the West as toxic.

During financial operations, the banks are also demanding additional paperwork from clients and remain averse to taking on risk.

According to Reuters, the banks that are in the market now include JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Deutsche Bank AG, Barclays Plc, and Jefferies Financial Group Inc.

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Most U.S. and European banks pulled out from the market in June after the Treasury Department banned U.S. investors from purchasing any Russian securities as part of Western economic sanctions to punish Moscow for invading Ukraine.

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