EU Banks Seen Bowing to U.S. on Russia Bans as Fines Rise

European banks, contending with escalating U.S. fines for sanctions violations, will likely bow to fresh bans imposed by the U.S. on financing Russian companies as the risks of dealing with the nation mount.

The U.S. Treasury on July 16 named Russian companies to be barred from accessing U.S. equity or debt markets for new financings with maturities beyond 90 days. Lenders elsewhere may follow the sanctions, according to two European banking officials who spoke on condition of anonymity.