Amid Russia's financial turmoil, National Bank of Alaska, Anchorage, has decided to put on hold its $2 million investment in an ailing Russian bank.

In May, the $2.9 billion-asset company said it would invest the funds in Far Eastern Bank, a $100 million-asset bank in the port city of Vladivostok. The transaction also included a seat on Far Eastern's board. "We're going to wait for things to settle down," said Donald Mellish, chairman of the bank's executive committee.

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