Analysis-Crypto exchanges won't bar Russians, raising fears of sanctions backdoor

FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/

LONDON (Reuters) - Some of the world's biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in a decision that experts say weakens Western attempts to isolate Moscow following the invasion of Ukraine.

Western sanctions, which aim to squeeze Russia's economy and sever it from the global financial system, have forced companies and financial firms in their droves to halt business in the country.