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Russian Central Bank Shuts Down Three More Small Banks

Russia's central bank revoked the licenses of three small banks on Wednesday, pressing its crackdown on money laundering and risky operations in the sector. Russia has more than 900, mostly small, banks, and many are suspected of servicing the shadow economy. Since taking up her position as central bank head last year, Elvira Nabiullina has made it clear she wants to tighten banking supervision and shore up large-scale capital flight to boost the...

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