Business Arena 26.01

In Thursday’s episode, our host David Kennedy started the programme with our main stories which began with Gazprombank’s statement: “Due to the unilateral decision of two U.S. banks, JP Morgan, Chase Bank and Bank of New York Mellon, the servicing of correspondent accounts in dollars will be terminated”. The statement went on to detail: “We ask you not to use Gazprombank for U.S. dollar transfers, starting from Jan. 27 inclusive.” Sweeping Western sanctions have hit Russia's financial sector since Moscow sent tens of thousands of troops into Ukraine 11 months ago.