Russia Defiant in Face of Tougher Sanctions

July 30, 2014 9:35 AM

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Russia's central bank promised to support financial institutions hit by new sanctions imposed by the United States and the European Union.

The United States imposed sanctions on more Russian banks on Tuesday, targeting the country's second-largest lender VTB , its subsidiary the Bank of Moscow, and the Russian Agriculture Bank. The European Union also announced measures limiting access to capital for Moscow.

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