The UK imposed sanctions against Novikombank – Kommersant
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The UK authorities have imposed sanctions against Novikombank, the main bank of Russian industry and, in particular, the state corporation Rostec. In addition, a ban was introduced on correspondent relations with other Russian banks.
“The following position has been added to the unified sanctions list… joint-stock commercial bank Novikombank,” notes the document published on website British government.
Previously, Novikombank was already subject to restrictions in the USA and Australia. UK sanctions will, among other things, block his assets in the country.
The UK also introduced a ban on correspondent relations with VTB, Gazprombank, Rosselkhozbank, Bank for International Settlements, Promsvyazbank, FC Otkritie, Bank St. Petersburg, RRDB, Metallinvestbank, Uralsib, MTS Bank, Zenit Bank, VEB .RF and its “daughter” Dom.RF, Rosbank and Tinkoff Bank, Industrial Savings Bank, Genbank, Black Sea Bank for Reconstruction and Development, UBR, SMP Bank, MKB, Ministry of National Bank.
Currently, more than 90% of the Russian financial system is under UK sanctions. British authorities have frozen Russian assets worth £22.7 billion ($28.9 billion).
December 7 National Rating Agency (NRA) appropriated Novikombank is rated AA(ru) (outlook stable) on the national rating scale. Experts from the ACRA rating agency at the end of November after assessing the bank’s financial results established its credit rating of Novikombank is AA-(RU) with a stable outlook. In July 2023, it had an A+(RU), or “positive” rating.
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