Stock Groups

Banks talking with government for clarity on sanctions -Dimon -Breaking

by Mike Robinson

[ad_1]

© Reuters. Jamie Dimon, JP Morgan CEO, watches as the French headquarters of JP Morgan Bank in Paris is inaugurated. This event took place on June 29, 2021. Michel Euler/Pool via REUTERS

NEW YORK (Reuters) – Major banks are talking with government officials to be clear on how sanctions against Russia should work, JPMorgan Chase & Co (NYSE:) Chief Executive Officer Jamie Dimon said on Monday.

Dimon explained to Bloomberg TV that conversations should be “so everybody understands the issues”, not because people are for or against any specific thing. These people must think carefully about the way they do these things.

Dimon said, “People worry about unintended consequences and what countries sanctions might cause.” You have to deal with a lot of problems.”

Over the weekend teams of lawyers from large banks and payment specialists worked together to determine how best to comply with sanctions that have been imposed on governments.

Dimon stated that “sanctions can be very precise, specific, and clean.” They are too specific and should not be ignored.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information, including buy/sell signal data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]