Sanctions begin to affect banks, stocks in Russia

Posted: March 22, 2014 at 3:54 a.m.

A person walks outside the head office of Bank Rossiya in St. Petersburg, Russia, Friday, March 21, 2014. Two Russian banks, including Bank Rossiya, the Russian lender which was put on the Treasury's sanctions list, said Visa and MasterCard have stopped providing services to them. Bank Rossiya is a private bank owned by Yuri Kovalchuk, considered to be Russian President Vladimir Putin's longtime friend and banker. With about $10 billion in assets, Rossiya ranks as the 17th-largest bank in Russia and maintains numerous ties to banks in the United States, Europe and elsewhere. (AP Photo/Elena Ignatyeva)

MOSCOW — Russia conceded Friday that it’s possible it will scrap plans to tap international markets for money this year as it counts the cost of the sanctions imposed in the wake of the annexation of Crimea.

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Business, Pages 27 on 03/22/2014


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