Europe hurls Sberbank into sin bin in latest Russia blow

By Francesca Young
31 Jul 2014

Sberbank, the largest of Russia’s state owned banks has been included on the list of EU sanctioned entities, shocking some investors who had hoped the sanctions would be limited to policy banks. But although the identities of the institutions sanctioned were clear enough, bankers are now deciphering just what it is they are not allowed to do for them.

Together with Sberbank, VTB Bank, Gazprombank, Vnesheconombank, and Russian Agricultural Bank were added to the EU’s list of sanctions on Thursday, which prohibit the raising of new equity or new debt with a maturity longer than 90 days.

The US this week added VTB, Bank of Moscow (a ...

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