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Swiss financial watchdog extends protection measures at Sberbank to Sep. 1

·1-min read
St. Petersburg International Economic Forum (SPIEF)

BERLIN (Reuters) - The Swiss financial market supervisory authority FINMA is extending the duration of its protection measures at Sberbank Switzerland AG to Sept. 1 due to heightened international sanctions, it said on Tuesday.

In March, FINMA had announced it was taking measures to protect the bank's creditors, including wide-ranging ban on payments and transactions. The measures were partially lifted for a short time in July to allow the bank to settle claims of non-sanctioned creditors but are now back to being extended.

"The investigating agent appointed by FINMA will continue to perform their duties," said the authority in a statement.

(Writing by Miranda Murray; Editing by Kim Coghill)

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