Putin Huddles With Tycoons to Offer Banks Bulk of State Aid
- Russian aid will initially focus on helping sanctioned lenders
- U.S. says sanctions target 80% of Russian banking assets
Vladimir Putin chairs a meeting of big businesses at the Kremlin in Moscow, Russia, on Feb. 24.
Photographer: Alexey Nikolsky/AFP/Getty Images
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Banks are taking precedence for President Vladimir Putin as Russia devises a domestic response to sanctions rolled out by western governments over the invasion of Ukraine.
Russian state aid will initially focus on assisting lenders hit with penalties, according to two people who attended a closed meeting with Putin to address the impact of the conflict on big business.