The US has introduced new sanctions against Russia. In particular, restrictions have been extended against Sberbank and Alfa Bank. The new sanctions involve the freezing of their assets in the United States, as well as a ban on interaction with them by US persons. Similar sanctions were imposed by the United Kingdom, affecting Sberbank and the Moscow Credit Bank (MKB).
In February, sanctions were imposed on Sberbank only on correspondent and payable-through accounts. Earlier measures against Alfa Bank prohibited transactions and transactions by U.S. citizens or on U.S. territory related to debt obligations.
At Bellerage we advised clients to open accounts at non-sanctioned international banks operating in Russian, such as Raiffeisen, UniCredit or Rosbank (Societe Generale).
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