Danforth Newcomb News Today

(Bloomberg) -- Russia’s annexation of Crimea in 2014 was the moment when many global banks sharply cut their exposure to Vladimir Putin’s regime. But firms from some European nations weren’t put off for long.

After Russian President Vladimir Putin recognized two self-proclaimed separatist republics in eastern Ukraine, lenders such as SocGen, UniCredit and Raiffeisen look increasingly exposed to the knock-on effects of financial sanctions by Western governments.