Quote Originally Posted by Pannonian View Post
UK imposes sanctions on Russian banks. But gives their biggest bank 30 days in which to withdraw their assets.

What's the point? Does it really merit the label of "sanctions"?
I'm not a banker but I would have thought that - just like with the 2008 crisis - it is equally liquidity that matters and if the banks can't trade with those outside the country it would still bite. And unless the banks have gold bullion or other physical assets, they can (and probably did) withdraw as much as they were able to within seconds of the S word was mentioned.