The United Kingdom has adjusted its sanctions policy against Russian banks. Novikombank, owned by Rostec, was added to the sanctions list. And for other sanctioned banks, correspondent relationships have been prohibited.
The restrictions come into effect on December 15. For Novikombank this means the freezing of assets, the prohibition of correspondent relationships and the impossibility of processing payments.
The wording was also adapted to the restrictions already introduced in relation to several Russian banks. The updated rules include a ban on correspondent relationships with sanctioned organizations.
Among the banks that will be affected by the new measures are Alfa Bank, VTB, FC Otkritie, Tinkoff, VEB, MTS Bank, SMP Bank and others.
Novikombank, as part of the state corporation Rostec, mainly serves corporate clients. Among them are large Russian companies and companies in high-tech industries. Rostec head Sergei Chemezov is also included on the British sanctions list.
The United States imposed sanctions on Novikombank in 2015 in connection with events in Ukraine. In 2022, the bank was placed on the American SDN list, which means isolation from the dollar system, freezing of assets and prohibition of cooperation with American companies.
Author:
Natalia Gormaleva
Source: RB
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