UK markets closed
  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     
  • FTSE 250

    18,636.98
    -29.80 (-0.16%)
     
  • AIM

    875.21
    -1.01 (-0.12%)
     
  • GBP/EUR

    1.1593
    -0.0018 (-0.16%)
     
  • GBP/USD

    1.2103
    -0.0072 (-0.59%)
     
  • BTC-GBP

    15,788.50
    -95.59 (-0.60%)
     
  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • DOW

    31,097.26
    +321.83 (+1.05%)
     
  • CRUDE OIL

    108.46
    +2.70 (+2.55%)
     
  • GOLD FUTURES

    1,812.90
    +5.60 (+0.31%)
     
  • NIKKEI 225

    25,935.62
    -457.42 (-1.73%)
     
  • HANG SENG

    21,859.79
    -137.10 (-0.62%)
     
  • DAX

    12,813.03
    +29.26 (+0.23%)
     
  • CAC 40

    5,931.06
    +8.20 (+0.14%)
     

Russia's Sberbank says working as usual despite new EU sanctions

·1-min read
The logo is on display in an office of Sberbank in Saint Petersburg

(Reuters) - Russia's largest lender Sberbank said on Tuesday new European sanctions would not impact its operations after European Union leaders agreed to cut bank that was already under sanctions from the SWIFT messaging system. EU leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the year-end and on other sanctions, such as cutting Sberbank from SWIFT, in an effort to punish Moscow for what it calls a "special military operation" in Ukraine. "We are working as usual despite the new sanctions," Sberbank said in a statement, adding that the main restrictions on its operations have already been in place.

The United States in April imposed sanctions on Sberbank, which has over 110 individual customers and holds one-third of Russia's total banking assets. Back then, Sberbank also said the penalties won't have a significant impact on its operations. "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," Sberbank said on Tuesday.

(Reporting by Reuters; editing by David Evans)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting