Russian banks have lost 1.5 trillion rubles ($25 billion) in the first half of this year as a result of sanctions imposed by countries against the Russian Federation over its invasion of Ukraine.
The Western sanctions were aimed at blocking the assets of Russian banks as well as banning some of them from trading in dollars, euros, and other convertible currencies.
As a consequence, many Russia's "systemically important" banks, the largest in the country and those with the highest capital adequacy requirements, reported losses in the first half of 2022.
