U.S. officials are secretly asking major banks to continue doing business with some Russian firms, Bloomberg reported, citing unnamed sources familiar with the situation.
Treasury Department and State Department officials are urging firms, including banks JPMorgan and Citigroup, to continue providing services to some Russian companies that are partially exempt from sanctions. The motive is said to be to reduce the likelihood of a global economic crisis.
Sources told Bloomberg that Russian companies included state gas giant Gazprom and fertilizer producer PJSC Uralkali.
According to Bloomberg, officials are demanding that banks continue to provide basic services to firms, such as U.S. dollar settlements, payment transfers and trade finance offers.
U.S. officials secretly ask major banks to continue doing business with some Russian firms

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