Major Japan banks to halt dollar transactions with Russia's Sberbank

Politics Economy

Japan's three major banks will halt dollar transactions and money transfers with Russia's largest financial institution Sberbank following the United States' sanction against it in response to the Ukraine invasion, sources close to the matter said Saturday. MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corp. have been settling dollar transactions with Sberbank via the United States. Disruption of their dollar dealing with the Russian bank will likely force Japanese companies doing business in Russia to seek alternative ways to settle payments such as using non-U.S. banks, the sources said...

Kyodo News

Kyodo News