In Russian Sanctions, Uncertainty is a Prime Motivator for Banks

By Brian Monroe and Colby Adams

CORRECTION APPENDED: U.S. sanctions against 24 Russian individuals and companies, including three banks and the head of one of the nation's largest energy companies, will raise more questions than answers for compliance officers. The designations Monday of SMP Bank, InvestCapitalBank, JSB Sobinbank and others come in response to the Russian Federation's failure to follow through on promises made as part of an April 17 multilateral agreement in Geneva, U.S. Under Secretary for Terrorism and Financial Intelligence David Cohen said in a statement. The United States has blacklisted 64 Russian and Ukrainian entities since Russia's invasion of the Crimean peninsula in...