Banks, investors and insurers have in recent days ratcheted up that pressure by exiting investments in Russia and halting the provision of their services.
In another turning of the screws on Moscow, trade credit insurers, who provide a financial safety net for exports and imports, are pulling back from covering businesses exporting to Ukraine and Russia given the risks of sanctions, high claims or missed payments, industry sources said.The move in the nearly $3 trillion global market will heap further pressure on Russia's already teetering economy.
European Union officials are also examining curbing Russia's influence and access to finance at the International Monetary Fund following the invasion, six officials told Reuters. L2N2V71XO
Source: News Formal (newsformal.com)
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