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Russia to Tighten Rules on Pivotal Financial-Services Providers

The Russian government plans to tighten oversight of suppliers of “critical” infrastructure for financial services after sanctions over Ukraine caused two plastic-card companies to halt transactions in March.

The Finance Ministry proposed to define such providers, which include the SWIFT banking co-operative, Bloomberg LP and Thomson Reuters Corp., and their responsibilities, according to a draft document published on the government’s disclosure website. The amendment paves the way for Russia to punish “improper provision of information services,” it said.