Financial challenges of the banking sector due to the anti-Russian sanctions

Abstract

The author considers the risks that arose due to the anti-Russian sanctions, the implementation of geopolitical risks in relation to Russia and its banking sector. The situation that could arise in the event of Russia’s disconnection from SWIFT, the leading international monetary settlements system in the world, is analyzed. Besides, the author examines the problems between Russia’s banking sector and foreign correspondent banks with regard to the introduction of anti-Russian sanctions. The issues outlined in the article affect not only the banking sector of the Russian Federation, but the entire economy.