How Switzerland’s rescue of Russian bank went spectacularly wrong

Financial Times: The tale of Sberbank Switzerland, drawn from interviews with multiple players involved in the deal, is a case study in what happened when western governments imposed sweeping sanctions on Russia and suddenly faced the problem of finding new owners for billions of dollars of Russian assets. Often, the only buyers willing to step in came from far outside the traditional corporate world. Regulators greenlit unconventional deals with opaque financing and stored up problems for later, critics say…