That financial entity Sberbankthe largest in Russia in state assets, enters lofficial list of sanctions in the UKaccording to the latest update issued by the Ministry of Finance.
“Sberbank is engaged in obtaining profits for and from the Russian Government”detailed government annotations.
With this step, British executives include Russia’s main state bank in a punitive regime set up in recent weeks in response to military operations in Ukraine.
The new sanctions focus on financial companies, alleged oligarchs close to the Kremlin and companies in sectors of strategic and economic importance to Russia.
“This is a very important entity in the financial services sector, the strategic importance to the Russian Government“, added the note.
That The Ministry of Finance states that the Russian Government controls the “majority stake” in the capital of this public company, which is listed on the stock exchange.
“Sberbank also conducts its business as an affiliated entity of the Russian Government,” he noted.
That sanctions involve freezing of bank assets in the UK and a ban on all types of transfers and clearing operations of the ruble in pounds sterling.
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