The European Commission has proposed sanctions against it Credit Bank of Moscow and her Russian Agricultural Banktwo EU imgs told Reuters today. Earlier today EU Commission President Ursula von der Leyen says Sberbank will also be sanctioned. EU governments will have to approve the proposal before it can be adopted.
If the proposal is approved, the three banks will be excluded from the SWIFT interbank trading systemthe img said, complicating their dealings with other lenders.
However, the Commission did not propose a complete ban on transactions or a freeze on assets imposed on other Russian banks in a previous round of EU sanctions, including VTB.
Sberbank is its largest bank Russia.
The Commission has avoided proposing sanctions against Gazprombank, which is crucial for gas payments, according to Reuters and the Athens News Agency.
The EU has so far not imposed sanctions on Russian gas.
Previous rounds of EU sanctions have targeted other Russian and Belarusian banks, following the Russian invasion of Ukrainewhich Moscow calls a “special military operation.”
Source: News Beast
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