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Swiss bank Julius Baer suspends Russian operations amid sanctions

July 21, 2014, 16:50 UTC+3 MOSCOW
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MOSCOW, July 21./ITAR-TASS/. Swiss banking group Julius Baer has suspended its business in Russia and Eastern Europe amid sanctions imposed against Moscow by the US and the EU, CEO Boris Collardi said in an interview with Bloomberg TV released on Monday.

The inflow of Russian clients’ money to the bank was small, that is why Russian risks can impact Julius Baer Group only indirectly, he said.

However, a representative for the bank’s unit in Russia said that they have no such information and continue their work.

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