Major banks and securities firms on Wall Street say they’re struggling to comply with new U.S. sanctions on key parts of the Russian energy and financial industries, which they argue are too vaguely worded, Reuters reports.
Some compliance officers at banks and broker-dealers say that the sanctions, announced by President Barack Obama on July 16 in response to Russia’s support of separatist Ukranian rebels, are not clear enough and they are not sure how to comply. Some fear they are unintentionally leaving themselves open to punitive action by U.S. regulators, according to Reuters.
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