Bloomberg has learned about US concerns over the “side effect” of sanctions, and Tinkoff (LON:TCSq) will allow currency fund units to be traded on the OTC market – these and other important news for Wednesday morning, June 15, in our daily review.

A number of U.S. presidential administration officials are expressing concern that the sanctions, “instead of affecting the Russian authorities, are exacerbating inflation, worsening food security and penalizing ordinary Russians more,” Bloomberg writes, citing sources. According to the agency, with major companies leaving Russia, U.S. authorities “have been caught off guard by potential side effects ranging from supply chain bottlenecks to uninsured grain exports.”

MC “Tinkoff Capital” will allow investors to trade units of currency funds on the OTC market, while the trading of some funds on the exchange is frozen due to sanctions. This is reported in the Telegram-channel “Tinkoff Investments”. Such an opportunity will remain after the launch of exchange trading. Already this week, investors will be able to trade units of four BPIF in dollars: Tinkoff NASDAQ Biotech, Tinkoff NASDAQ, Tinkoff Index IPO and Eternal Portfolio USD. This list will expand in the future.

Framework agreements cannot be considered as valid contracts for the purposes of enforcing anti-Russian sanctions, nor can contract extensions qualify for the valid contract exception. These are the clarifications of the European Commission regarding the execution of previously concluded contracts within the framework of the sanctions regime against Russia, writes RBC.

Cryptocurrency exchange Coinbase (NASDAQ:COIN) will lay off nearly a fifth of its workforce amid a collapse in stock and cryptocurrency prices. The reduction of 18% of its staff (about 1,100 out of 5,000 people) will be a “one-time event,” employees hit have already been restricted from accessing the company’s systems, CNBC reports. The company has also filed the necessary documents about the upcoming layoffs with the Securities and Exchange Commission (SEC), The Verge writes.

Deputy Treasury Secretary Wally Adeyemo said that the main task of the U.S. authorities is to limit the revenues that Russia receives from oil sales, Kommersant writes. According to him, this is due to the fact that by selling smaller volumes of raw materials, Russia gets more profit due to rising oil prices.