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India's top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter. "No transactions involving entities, banks, ports or vessels appearing" on a US, European Union or United Nations sanctions list shall be processed irrespective of the currency of the transaction, said a letter sent by State Bank of India (SBI) to certain clients. SBI did not immediately respond to emails or calls seeking comment on the matter.
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