Global banks face an arduous and costly process if they decide to close businesses in Russia, banking sources and experts say, complicating decisions over whether they should withdraw.
Banks would need to work out the implications of that for their operations and whether it prohibited overseas companies in Russia - from countries that sanctioned Moscow - from accessing rouble credit facilities, which would deal a blow to them being able to operate in the country, that source said. The source questioned whether foreign banks could continue to operate in Russia given the circumstances.
Sanctions have effectively ended any realistic chance of global banks selling Russian assets, said one senior banking source who asked not to be named. That leaves winding down assets or writing them off as the only viable options, the source said, which would involve a financial hit.
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