UK imposes sanctions on Sberbank

https://world.sputniknews.com/20220301/the-united-kingdom-imposes-sanctions-on-sberbank-1122435998.html

UK imposes sanctions on Sberbank

UK imposes sanctions on Sberbank

The UK is imposing sanctions on Sberbank, including blocking correspondent accounts and sterling clearing operations. 01.03.2022, Sputnik World

2022-03-01 T08: 38 + 0000

2022-03-01 T08: 38 + 0000

2022-03-01 T11: 47 + 0000

Economie

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Sberbank

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“Sberbank is involved in obtaining and from the Russian government benefits,” the government’s explanation details. With this move, the conservative British CEO has included Russia’s main state bank in the sanctions regime created in recent weeks in response to the military operation in Ukraine. The new sanctions focus on financial companies, alleged oligarchs close to the Kremlin and companies in sectors of strategic and economic importance to Russia. The Treasury insists that the Russian government controls a “majority stake” in the capital of this public company, which is listed on the stock exchange. “Sberbank is also running its business as an entity of the Russian government,” she says, and Sberbank said it would review the UK’s sanctions. The corporation said in a statement that customers in Russia would not be significantly affected by these measures. The United States, the European Union, Japan and other countries activated individual and sectoral sanctions against Russia after Putin signed the decrees recognizing the Donetsk and Lugansk People’s Republics on February 21, and three days later announced the launch of a “special military operation”. “In Ukraine, claiming that the two republics requested assistance in countering Kyiv’s aggression. In an unprecedented situation, individual restrictions were extended to include Russian President and Foreign Minister Sergey Lavrov. Sectoral sanctions, for the first time, include partial separation of Russia from the SWIFT system and freezing of international reserves of the issuing bank, Many countries also decided to close their airspace to Russian aircraft, and Russia took similar measures by preventing the use of its airspace for aircraft from 36 countries that cut air service with Moscow.

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The UK is imposing sanctions on Sberbank, including blocking correspondent accounts and sterling clearing operations.

“Sberbank is involved in obtaining and from the Russian government benefits,” the government’s explanation details.

With this move, the conservative British CEO is including the main Russian state bank in the sanctions regime created in recent weeks in response to the military operation in Ukraine.

The new sanctions focus on financial companies, alleged oligarchs close to the Kremlin and companies in sectors of strategic and economic importance to Russia.

“It is a very important entity in the financial services sector, a sector of strategic importance to the Russian government,” the note adds.

The Treasury asserts that the Russian government controls a “majority stake” in the capital of this publicly listed company.

He notes that “Sberbank also operates as an entity of the Government of Russia.”

Sberbank said it would study the sanctions adopted by the United Kingdom. Customers in Russia will not be greatly affected The institution said in a statement.

“Sberbank will review the restrictions adopted by the United Kingdom as the documents are made public. Russian retail and corporate customers will not be significantly affected by these measures,” she added.

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The United States, the European Union, Japan and other countries activated individual and sectoral sanctions against Russia after Putin signed the decrees recognizing the Donetsk and Lugansk People’s Republics on February 21, and three days later announced the launch of a “special military operation”. In Ukraine, it was alleged that the two republics asked for help in the face of Kyiv’s aggression.
Who will actually affect Western sanctions against Russia?  - Sputnik World, 1920, 02.26.2022

Who will actually affect Western sanctions against Russia?

In an unprecedented situation, individual restrictions were extended to include Russian leader and Foreign Minister Sergei Lavrov.

Sectoral sanctions also include, for the first time, Russia’s partial separation from the SWIFT system, and the paralysis of the international reserves of the issuing bank.

Many countries have also decided to close their airspace to Russian aircraft.

Russia, in turn, introduced similar measures by banning the use of its airspace by aircraft from 36 countries that cut off air services with Moscow.

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