Money

‘Business as usual’ at Sberbank despite European sanctions

Published

4 years ago

May 31, 2022

One of Russia’s state-owned banking and financial services companies, Sberbank, says it is business as usual

Sberbank says European sanctions are not affecting its operations.

The bank was already under sanctions from the SWIFT financial system. The U.S. has also imposed sanctions on the bank, which holds one-third of Russia’s total banking assets.

Back then, the bank also noted the penalties won’t have a significant impact on its operations.

It comes as EU leaders agree to cut 90 per cent of oil imports from Russia by the years-end.

Related Topics:Featured russia Sanctions against Russia sberbank

Up Next

First Russian cargo ship leaves Mariupol since Russia conquered the city

Don't Miss

Chinese textbooks slammed for being racist

Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.