The latest round of US sanctions against Russian oligarchs and political officials have been designed to wound parts of the country’s economy. But the pain is also likely to be felt far away from Moscow. “These sanctions are going to make it very difficult for any western bank to deal with these companies or individuals,” said Michael O’Kane, partner at Peters & Peters in London. “The breadth of the sanctions also suggest they may restrict non-US citizens from facilitating significant transactions with these companies, which may complicate trade.” Read more.