AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Follow us

MOSCOW: Russia’s largest bank Sberbank said Tuesday it was not affected by fresh EU sanctions over Ukraine that excluded the bank from the SWIFT financial messaging system.

“We are working as normal – the main restrictions are already in place,” the company said in a statement on Telegram referring to earlier US and UK sanctions that have already isolated its financial system.

Rouble eases from over 2-year high vs euro

It added that the cut-off from SWIFT “does not change the current situation for international transactions”, while transactions within Russia do not use the Belgium-based messaging platform.

After President Vladimir Putin sent troops into Ukraine on February 24, Russia was hit with a barrage of sanctions that especially targeted its economy and financial institutions.

The EU in March cut off seven Russian banks from SWIFT, but Sberbank had not initially made the list in order to allow EU countries to pay for Russian gas and oil deliveries.

However, EU countries have since scrambled to reduce their dependency on Russian energy and on Monday the bloc announced it was banning most oil imports from Russia.

Russia has been developing domestic financial infrastructure, including the SPFS system for bank transfers and the Mir card payments system.

Several subsidiaries of European banks continue to operate in the country and remain connected to SWIFT.

Comments

Comments are closed.

Russia’s Sberbank says ‘working as normal’ after SWIFT cut-off

Policy rate hiked to 16pc to quell biting inflation

Alternative energy: PM urges Pak-Turkish collaboration

China’s Shenzhen Energy signs long-term LNG contract with BP

Jul-Oct period: Rs241.26bn authorised/disbursed under PSDP

Overnight reverse repo (ceiling) rate to be 17pc

Argentina look to Messi to salvage World Cup bid

FDFF creation: Cabinet approves Rs100m technical supplementary grant

Energy sector: ADB sending mission for proposed policy-based loan

Turkish cos to take up profit repatriation, taxation issues with PM

PM, Erdogan hold one-to-one meeting