The South African Reserve Bank (SARB) has issued a warning about the potential risks to the nation's financial stability due to perceived ties with Russia, which could result in secondary sanctions. The SARB has expressed concerns that South Africa's position may jeopardize the global involvement of its financial institutions. The recent grey-listing by the Financial Action Task Force (FATF) has also increased the risk to financial stability. The SARB has cautioned that even if secondary sanctions are not imposed, foreign counterparts of South African financial institutions may cut back on their exposure to the country as a measure of risk management. South African financial institutions will be closely monitoring the situation to minimize the impact on their operations and the nation's economic stability.