EL PAÍS
Scilla Alecci | April 11, 2026
The economic sanctions recently imposed by the US, the EU and the UK and other powers prohibit banks within their borders from transacting with the Russian firms on the blacklist. The sanctions make it impossible for the Russian firms to do business as usual. Sanctioned individuals are barred from traveling and their assets—including bank accounts and luxury goods within those jurisdictions—are frozen.
“A tremendous share of the Russian economy is pegged to us … If the bank’s clients get in trouble, we begin to feel the Earth shake under our feet.” – HERMAN GREF
Russian government officials have been mostly dismissive of the potential impacts of the latest wave of sanctions against their country.