The USA imposes full blocking sanctions on Russia’s largest financial institution, Sberbank, and Russia’s largest private bank, Alfa- Bank.
Source: the White House
This action will freeze any of Sberbank’s and Alfa-Bank’s assets touching the U.S financial system and prohibit U.S. persons from doing business with them.
“In addition, full blocking sanctions on Russian elites and their family members, including sanctions on President Putin’s adult children, Foreign Minister Lavrov’s wife, and daughter, and members of Russia’s Security Council including former President and Prime Minister of Russia Dmitry Medvedev and Prime Minister Mikhail Mishustin”.
UaPosition memo: Sberbank holds nearly one-third of the overall Russian banking sector’s assets and is systemically critical to the Russian economy. Alfa-Bank is Russia’s largest privately-owned financial institution and Russia’s fourth largest financial institution overall.
