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Swiss regulator extends transaction ban at Sberbank arm

Reuters
·1-min read
The logo of Swiss Financial Market Supervisory Authority FINMA is seen outside their headquarters in Bern

ZURICH (Reuters) - Swiss financial market supervisor FINMA is extending a ban on payments and transactions at the Swiss arm of Russia's largest lender Sberbank as part of a package of protective measures against the backdrop of widening sanctions and Russia's invasion of Ukraine.

FINMA in March banned Sberbank (Switzerland) AG from making payments and transactions and imposed other measures it said were designed to protect creditors.

"These measures are now being extended until 31 May 2022 owing to heightened international sanctions and the continuing risks for the bank's liquidity situation," it said on Tuesday.

(Reporting by Brenna Hughes Neghaiwi; Editing by Paul Carrel)