russian billionaire is suing banks for refusing to do business with him
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russian billionaire Boris Rotenberg is suing four Nordic banks for not doing business with him, Bloomberg reports.
The oligarch, an associate of President Vladimir putin, is on the U.S. sanctions list. But Rotenberg says his status as a dual citizen of both russia and Finland means banks based in Europe must process his transactions.
The banks in question — Svenska Handelsbanken AB, Nordea Bank Abp, OP Group and Danske Bank A/S — disagree. The concern is that they risk losing access to the dollar market if they breach U.S. sanctions.
A court in Finland is about to decide the answer to that question, and its verdict may have far-reaching implications.
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