April 16, 2014
Russia is looking at the possibility of filing a lawsuit against the United States in the World Trade Organisation over sanctions hitting Russian banks, Economy Minister Alexei Ulyukayev said on Wednesday, according to Russian news agencies.
St Petersburg-based Bank Rossiya was sanctioned alongside its chairman and largest shareholder Yuri Kovalchuk in March as part of punitive measures by Washington over Russia’s annexation of Crimea.
Russian bank SMP was also indirectly affected as co-owners Boris Rotenberg and his older brother Arkady fell under U.S. sanctions. SMP chief executive Dmitry Kalantyrsky has said that an estimated 9 billion rubles ($249 million) had been withdrawn after the sanctions were imposed.