Mumbai: Ban Russian lenders from Intense Financial messaging system has been limited to seven banks Those who are attached to the government and have a direct relationship with the defense sector. Bankers said that as feared earlier, there is no absolute restriction and now it appears that payments can be made through some banks.
Russia’s second largest banks taken out of the system in the initial list Bank VTB, Bank Otkritie, Novikombank, Promsvyazbank, Bank Rossiya, Sovcombank and VEB. SWIFT has allowed banks 10 days to clear the transactions already in the pipeline.
More banks are likely to be included in this list and a total of 25 banks including subsidiaries may be excluded. However, it is now clear that some banks will continue to be allowed to route transactions.
Russia’s biggest lender Sberbank, and Gazprombank, which is used to pay for gas exports to Europe, are left out of the ban. On Tuesday, the UK Treasury announced that it was adding Sberbank to a list of Russian entities that were approved. Ukraine attack. The Russian lender announced on Wednesday that it was exiting European markets in the wake of large cash outflows. In India, Sberbank has a branch at Barakhamba Road in Delhi.
Russia’s second largest banks taken out of the system in the initial list Bank VTB, Bank Otkritie, Novikombank, Promsvyazbank, Bank Rossiya, Sovcombank and VEB. SWIFT has allowed banks 10 days to clear the transactions already in the pipeline.
More banks are likely to be included in this list and a total of 25 banks including subsidiaries may be excluded. However, it is now clear that some banks will continue to be allowed to route transactions.
Russia’s biggest lender Sberbank, and Gazprombank, which is used to pay for gas exports to Europe, are left out of the ban. On Tuesday, the UK Treasury announced that it was adding Sberbank to a list of Russian entities that were approved. Ukraine attack. The Russian lender announced on Wednesday that it was exiting European markets in the wake of large cash outflows. In India, Sberbank has a branch at Barakhamba Road in Delhi.