Bloomberg: US asks major banks to keep covert ties with Russia

The administration of US President Joe Biden is secretly asking major banks to continue working with Russian companies, which are under sanctions, fearing a possible collapse of the global financial system.

According to experts, such banks as JPMorgan are using a loophole in the laws on sanctions to continue working in Russia, despite the "special operation" in Ukraine. At the same time, bank representatives point out that they only act within the guidelines of the US government, Bloomberg reported on November 7.

The publication noted that this situation indicates that many American banks are between a rock and a hard place on the issue of sanctions, that is, between the Biden administration and Congress, which openly opposes Russia. At the same time, one of the agency's sources indicated that JPMorgan, Citigroup and a number of other large banks, at the behest of the Biden administration, are working with companies from Russia that are of great strategic importance.

According to the publication, such covert efforts indicate that the US authorities want to somehow smooth out the negative effects of anti-Russian sanctions that have begun to hit the global financial system. The main task now is to avoid a global economic catastrophe.