The US sanctioned Gazprombank, the last major Russian financial institution exempt from penalties, closing a loophole that Washington kept open over the course of the war in Ukraine because the lender is key for energy markets. European nations use Gazprombank to pay for the gas they still buy from Russia. The sanctions increase the risk of a cut-off of some of the remaining Russian natural gas flows to a handful of central European nations. Bloomberg’s Oliver Crook reports.
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