Helen Saulnier 
Bloomberg: US Quietly Asks Banking companies to Hold Some Ties With Russia, Even as Congress Balks
Deep into a seven-hour congressional listening to on Sept. 21, Agent Brad Sherman, a Democrat from California, pressed Dimon on whether his bank would sever ties with Russian corporations like vitality large Gazprom PJSC.
Financial institutions like Dimon’s, Sherman argued, had been exploiting a sanctions loophole to keep undertaking organization in Russia even with its invasion of Ukraine.
“We are next the guidelines of the American govt as they requested us to do it,” Dimon responded just before Sherman slice him off, setting his sights on Citigroup Inc.’s Jane Fraser with a comparable inquiry.
The exchange set on screen how the country’s biggest banking companies are caught in the drive-pull among the Biden administration and Congress on sanctions. Guiding the scenes, the Treasury and State Departments have urged banking giants like JPMorgan and Citigroup to maintain undertaking small business with selected strategic Russian companies, in accordance to individuals acquainted with the situation.
Read extra ….
Update #1: Biden administration encourages Wall Road banking companies to retain doing business enterprise with particular strategic Russian corporations, report says (Company Insider)
Update #2: White Property privately asks US banks to perform with Russia – Bloomberg (RT)
WNU Editor: Even if the report from Bloomberg is legitimate, there is no way Russian firms and establishments are likely to do enterprise with US banking companies.
