Russia faces new banking crisis
In July, the Russian banking sector faced its most serious crisis since 1998. In May, the medium-sized Sodbiznesbank lost its license after allegations of money laundering; rumors spread that the Central Bank was planning to purge the banking sector; the media began to talk of a blacklist of condemned banks.
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Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.
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