Russia's biggest bank, Sberbank, could find itself on the European Union's blacklisted of Russian institutions, The Wall Street Journal reported Wednesday, citing unidentified EU officials.
The EU member states agreed on Tuesday to bar European people and companies from buying or sell new bonds, equity and other financial instruments with maturity periods of longer than 90 days to majority state-owned Russian banks and their subsidiaries.
The EU's list of Russian banks and institutions that will have sanctions imposed on them is not expected to be released until the end of the week, but the EU officials told The Wall Street Journal that Sberbank is on it.
See also:
EU Sanctions on Russian Banks Would Stifle Investment, Lending
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.