Bahamas Suspends Financial Dealings with Russian Entities

The Bahamas Financial Regulatory Authority announced that it has suspended all its financial dealings with Russian entities.

It was decided to stop all financial institutions' dealings in the Bahamas with Russian entities, according to Reuters.

The agency said that the oil tankers owned by the Russian company, "Sovcomflot", had perted to the Bahamas after sanctions prevented the delivery of their shipments.

It is not yet clear how much money linked to Russia is being held in the financial institutions in the Bahamas.

Contributed by Israa Farhan