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Wall Street Briefed by Biden Team on Possible Russia Sanctions

  • Citi, BofA, JPMorgan are among firms involved in discussions
  • U.S. and allies hoping to prevent Russian invasion of Ukraine
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Wall Street Briefed on Potential U.S. Russian Sanctions

The Biden administration held discussions with the country’s largest banks on possible sanctions against Russia as part of its efforts to ensure such actions won’t disrupt the global financial system. 

Members of the National Security Council and other senior administration officials this week spoke with executives from banks including Citigroup Inc., Bank of America Corp., JPMorgan Chase & Co. and Goldman Sachs Group Inc. as they assess how to proceed, according to people familiar with the matter.