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Shares in European banks drop as Russia sanction bite

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© Reuters. FILE PHOTO: The financial district is photographed on early evening in Frankfurt, Germany, January 29, 2019. REUTERS/Kai Pfaffenbach/File Photo

LONDON (Reuters) – Shares in European banks dropped on Monday as the impact of massive sanctions from Western allies against the Russian financial system, including blocking certain Russian banks from the SWIFT payments system, spilled across global markets.

The index for euro zone bank fell more than 7% and touched levels unseen since the end of November.

Shares in European banks drop as Russia sanction bite

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