Sberbank, new target in the sights of European sanctions

The long discussions between Europeans on the fate of Russian oil, the likely target of an embargo as part of the sixth round of sanctions against Moscow, have made us forget another flagship measure under study in Brussels: targeting Sberbank. In turn, the first Russian bank with its 100 million customers could find itself cut off from Swift. The leaders of the former Soviet savings bank, transformed in recent years into a world pioneer in high-tech diversification, have already been added to the list of personalities sanctioned by the United States.

With always the same objective on both sides of the Atlantic: “hit systemic banks critical to the Russian financial system and Putin’s ability to sow destruction”, explained the President of the European Commission, Ursula von der Leyen. The head of the Kremlin did not react publicly to these threats of new sanctions. Sberbank, whose European branch is already bankrupt, also would not comment.

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