Julius Baer will reportedly cease doing business with clients residing in Russia by year-end, citing economic restrictions Swiss private bank Julius Baer will end all business with clients based in Russia due to sanctions, Reuters reported on Tuesday, citing a letter sent by the bank.

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The change in the political situation around the world at the end of February 2022 significantly affected the economic sector of the Russian market. Most European and American brands that supported the sanctions policy against Russia closed or temporarily suspended their work within the Russian Federation, and opened, by so doing, new opportunities for their…