Support The Moscow Times!

Russian Oligarch Under U.S. Sanctions Files Suit Against Nordic Banks

Boris Rotenberg (Sergei Fadeichev / TASS)

Russian businessman Boris Rotenberg, under U.S. sanctions over the Ukraine conflict due to his close ties with President Vladimir Putin, has filed a lawsuit accusing four Nordic banks of breaching service contracts in Finland, a court said on Monday.

The lawsuit, which was presented at Helsinki district court on Oct. 4, targets Nordea, Danske Bank, Handelsbanken and OP Bank.

The court and the banks declined to comment beyond confirming the lawsuit. A spokeswoman for Rotenberg declined to comment.

Rotenberg and his brother Arkady are both under U.S. sanctions over Russia's role in the Ukraine, but Boris Rotenberg was not put under European sanctions because he also holds a Finnish passport.

European banks must comply with U.S. sanctions in order to do business with American banks.

"Danske Bank is aware of Mr Rotenberg's claims but cannot comment on this individual ongoing matter due to corporate policy," a Danske spokesman said in an email.

He added that Danske — which has recently been hit by a money-laundering scandal at its Estonian branch — "takes money-laundering prevention and sanctions very seriously and has made significant efforts to ensure that all regulations are complied with."

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

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.

Once
Monthly
Annual
$10 / month
$15 / month
Other
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more