The United States will lift sanctions from the former “daughter” of “Sberbank” in Kazakhstan
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The US Treasury Department announced that it would lift the sanctions imposed against a subsidiary of Sberbank in Kazakhstan, because it was completely bought out by the local holding company Baiterek. The exclusion from the sanctions list will come into force on March 6, reports The Wall Street Journal.
Baiterek is a key financial institution of the government of Kazakhstan. The holding, through its subsidiaries, is a key operator in the implementation of state and government programs and the nation’s plan “100 Concrete Steps”.
The United States imposed sanctions against the Kazakh subsidiary of Sberbank immediately after the start of Russia’s military operation in Ukraine. September 1 National holding “Baiterek” bought the entire block of shares of the subsidiary bank and announced plans to rebrand the credit institution. At the same time, according to a representative of the US Treasury, the head of Baiterek, Kanat Sharlapaev, sent a request to the department to lift sanctions. On November 18 he officially came out from Russian citizenship.
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