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Japan's top banks face hefty losses on $8bn Russia exposure

Rising country risk requires reserves despite uninterrupted loan repayments

Country risks in Russia have come into focus for Japanese banks with the sanctions imposed in response to Moscow's invasion of Ukraine.   © Reuters

TOKYO -- Japan's top banks face the prospect of having to set aside billions of dollars in loss provisions for their exposure to Russia as the declining ruble and the financial turmoil there raise default risks.

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