As West Expands Russia Sanctions, Banks Ready for Further Asset Freezes

By Brian Monroe

International banks are bracing for economic sanctions against Russian officials beyond those announced Monday by Western nations, according to compliance officers. In response to a Crimean vote Sunday to join Russia, the White House issued an executive order clearing the way for economic restrictions on Russian officials and their associates as well as arms dealers in the nation. The United States named 11 top-ranking Russian and Crimean officials immediately blacklisted under the order and a counterpart order signed earlier this month. The European Union separately sanctioned 21 Russian and Crimean officials, some of whom were included on the U.S. blacklists....