US lifts sanctions on former subsidiary of Sberbank

The US Treasury announced the exclusion from the sanctions lists of the former Kazakh subsidiary of Sberbank. Information about it appeared in the list of the subordinate office of the Office of Foreign Assets Control.

Texakabank, which previously belonged to Sberbank, but was bought out by the Kazakh holding Baiterek in September last year, was on the list for exclusion from the sanctions list. On plans to lift sanctions from Texacabank US Department of the Treasury declared at the beginning of February of this year.

After the start of the military operation in Ukraine Sberbank came under US sanctions. In September 2022 Sberbank closed 527 offices, reducing the number of branches to 12,400, the highest number of bank branches closed in a month since May 2006.

Russian President Vladimir Putin noted that the policy of weakening the country is a long-term strategy for Western countries. Chairman of the Board of the Bank VTB Andrei Kostin previously said that the Russian economy was able to overcome anti-Russian sanctions, including through interaction with India and other friendly countries.