The U.S. Treasury Department will lift sanctions imposed on a former Russian Sberbank SBER.MM subsidiary that is now wholly owned by a Kazakh firm, its spokesperson and a U.S. official told Reuters on Tuesday.
A view shows the logo of Sber at the St. Petersburg International Economic Forum in Saint Petersburg, Russia June 15, 2022. REUTERS/Anton Vaganov/File Photo
Feb 7 - The U.S. Treasury Department will lift sanctions imposed on a former Russian Sberbank subsidiary that is now wholly owned by a Kazakh firm, its spokesperson and a U.S. official told Reuters on Tuesday. The Treasury imposed sanctions on the entity, previously called Subsidiary Bank Sberbank of Russia Joint Stock Co, in February last year in response to what Russia calls a "special military operation" in Ukraine. The conflict has killed or wounded thousands and reduced cities to rubble.its Kazakh subsidiary in August to Kazakh state-owned financial holding company Baiterek. The Kazakh subsidiary had been the second-biggest bank by assets in the former Soviet republic.
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