Western Banks Sent Billions in Cash to Russia on Eve of Ukraine Invasion, Data Shows
ID: 657270b6-5d5e-5597-9678-4ad2218c7d1f
STIX ID: report--657270b6-5d5e-5597-9678-4ad2218c7d1f
Date Published: 2025-03-25
Date Updated: 2026-03-26
Author: By Graeme McNaughton, Brian Fitzpatrick (OCCRP), Frederik Obermaier (Paper Trail Media)
The report details shipping records showing significant foreign currency deliveries into Russia by RBI, Bank of America, and Brink’s between 2017 and 2023, with a sharp increase in early 2022 amounting to over $12 billion from January 11 to February 25. It outlines stated compliance with sanctions, RBI’s ongoing wind-down of Russian operations, Bank of America’s reduced exposure, Brink’s suspension of Russia business, and TBSS’s later U.S. sanctioning, noting that pre-invasion shipments were legal at the time.
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