Major US Banks Decline To Confirm Reports Of Resumption Of Russian Bonds Trading

WASHINGTON (UrduPoint News / Sputnik - 19th August, 2022) Several major US banks declined to confirm to Sputnik whether they have resumed trading of Russian Dollar bonds after a pause over concerns of violating anti-Russia sanctions.

US media reported earlier in the week that major US banks began to facilitate transactions of Russian bond trading after the Treasury Department clarified it is not in violation of US sanctions for individuals seeking to wind down their Russian debt holdings.

"We'll decline to comment," a JP Morgan spokesperson told Sputnik on Thursday.

Bank of America and Wells Fargo also declined to confirm whether they are facilitating trading of Russian bonds.

The Office of Foreign Assets Control did not respond to Sputnik's request for comment on the matter as well.

Legal and General, one of the top holders of Russian dollar bonds, also declined to comment on the matter.

Global bond markets froze trade in Russian securities in June after the US Treasury Department banned Americans from buying Russian debt on secondary markets. The agency opened a three-month window on July 22 to allow clients to cut back on Russian holdings.

Nearly $40 billion worth of Russian sovereign debt was on the market when Russia launched a military operation in Ukraine, with about half owned by foreigners, according to the Financial Times.