EU says loans not sanctions target, Russian deals push ahead

Russian and EU flag
By Dan Alderson
06 Aug 2014

Daylight has opened up between the European and US positions on lending to Russia, with the Council of the European Union confirming that it intentionally left loans out of its sanctions against the country. And while some bankers are holding firm on their aversion to the Russian market, others say deals already in the market are progressing and that they are open to taking on new business with Russian entities.

The stance on Russian lending is changing day by day as a result of internal and interbank discussions, said loans bankers. That fluidity already represents a big shift from the end of last week, when most bankers were in agreement that the market was ...

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