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Russia's Sberbank Unimpacted by Sanctions


Russia’s largest lender, Sberbank released a statement today saying the new sanctions to remove it from using SWIFT would not impact its operations:

  • "We are working as usual despite the new sanctions, the cutoff from SWIFT is not changing the current situation in international settlements. Russian operations do not depend on SWIFT and will be carried out by the bank in standard mode,"
  • The banking sanctions were introduced along with the EU oil ban to try and make it difficult for Russia to trade internationally.

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