Region: Russian Federation

“Business as usual”: Sberbank’s Swiss and Kazakh arms change hands following sanctions

Russia’s largest bank has sold its subsidiaries in Switzerland and Kazakhstan, over six months after the country’s invasion of Ukraine prompted international sanctions.

05 September 2022

Russia turns to blockchain-powered ledger following SWIFT ejection

Practitioners have expressed doubts over Russia’s blockchain-based “alternative” for the SWIFT payments network from which many of the country’s banks have been excluded since the invasion of Ukraine.

22 June 2022

SocGen sells Russian arm to oligarch-owned Interros

French bank Société Générale will sell its banking activities in Russia back to Interros, a holding company controlled by Russian billionaire Vladimir Potanin, the latest in a stream of international banks to exit the country.

14 April 2022

EU promises "resolute action" against potential crypto loopholes in Russia sanctions

The European Commission has told GBRR it is ready to adopt additional measures to prevent Russian banks using crypto assets to evade its sanctions regime.

07 March 2022

SRB reaches split decision on Sberbank Europe

The European Union’s Single Resolution Board has declined to rescue Austrian-headquartered Sberbank Europe while transferring its Croatian and Slovenian subsidiaries to local competitors.

03 March 2022

Sberbank Europe “failing or likely to fail”, ECB says

The European Central Bank has warned Sberbank Europe is “failing or likely to fail”, following deposit outflows prompted by Russia’s invasion of Ukraine.

01 March 2022

The road ahead: GBRR's predictions for 2022

Climate. Merger policy. Enforcement. Cybersecurity and AI. Gender and diversity. Fintech, crypto and decentralised finance. 2022 is set to see advances from regulators across the world – but what can banks and their advisors expect? GBRR spoke to leading practitioners across the US, Europe, the UK, Russia and the Asia Pacific for their predictions for the year ahead in banking regulation.

07 February 2022

Russian regulator moves to ban crypto

Russia’s central bank has proposed legislation to ban cryptocurrency use in the country, just a day after it bolstered nonbanks’ offerings by allowing them to provide payment services previously restricted to fully-fledged banks.

24 January 2022

COP26 Finance Day: regulation round-up

Regulators and central banks have issued more climate-related commitments to coincide with COP26’s finance day, including preparations from the United Kingdom for becoming the world’s first “net-zero aligned finance centre” and the IFRS announcing plans for a single standard for sustainability disclosures.

04 November 2021

CBR revisits Russia’s market manipulation framework

Russia’s central bank has expanded the list of actions it characterises as market manipulation, as it sets out details of a new plea deal mechanism for such cases.

21 May 2021

Unlock unlimited access to all GBRR content