New Russian banks came under sanctions. The UK has added five Russian banks to its "black" list.
The United States limited itself to personal measures against bankers, but the new UK sanctions also affected the credit institutions themselves. At the same time, clients of Russian banks actively used the services of British credit institutions; their correspondent accounts last year had 257 billion rubles.
The UK has added the following five Russian banks to its "black" list:
UBRD;
SMP Bank;
Alfa Bank;
Gazprombank;
Rosselkhozbank.
British sanctions involve restrictions on the use of assets (they are frozen) and a complete ban on interaction with UK banks. Russian banks will not be able to open new correspondent accounts there during the period of sanctions. This will force Russian clients intending to make transfers and payments to the UK to use the services of other credit institutions.
British residents who are holders of Eurobonds (bearer securities) of Alfa-Bank will now find it difficult to receive payments on them. It will not even be possible to use the services of an intermediary bank without special permission from the UK authorities.
Russian banks reacted to the news in different ways. Alfa-Bank and Gazprombank had to notify customers of the suspension of operations with British counterparties. Representatives of SPM-Bank reported the absence of any assets and business ties in the country. The Ural Bank for Reconstruction and Development also said that nothing would change for its clients, as the bank has no British assets or liabilities to UK residents.
Residents of the UK have unfulfilled obligations to Russian banks (the British have especially large accounts payable to Alfa-Bank, in general, the volume of obligations is estimated at tens of billions of rubles). But now it will be possible to pay for them only with the consent of the British government.
Personal sanctions have been announced against German Gref, the head of Sberbank, Oleg Tinkov and others. Some employees who have already resigned also fell under the sanctions, for example, Lev Khasis, who left the board of Sber ahead of schedule on February 25, 2022. The assets of all those affected by the new sanctions have been frozen, and they are prohibited from entering the country. It is personally prohibited for ships owned or operated by Tinkov to enter UK ports.
Most US sanctions have been announced against members of the board of Sovcombank, they are quite tough, but the bank has already commented that the new measures will not affect the bank's activities in any way. Gref was also on the sanctions list.
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