EU in Talks With US to Mitigate Effect of Russian Bank Sanctions

The European Union is pressing the US to explore ways to mitigate US sanctions on Russia’s Gazprombank, a financial institution key for keeping Russian natural gas flowing into the bloc.

The discussions are ongoing even after President Vladimir Putin dropped a requirement that foreign buyers use only that bank when buying Russian gas, a move aimed at averting the impact of US the restrictions.

The EU and US are discussing the type and scope of mitigation measures after some European governments and companies warned that the sanctions would pose a risk to the region’s security of supply, according to ...