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.
