Swiss watchdog extends protective Sberbank transaction ban

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FINMA imposed the measures on Sberbank (Switzerland) AG on March 4 following Russia’s invasion of Ukraine, which prompted a host of sanctions to be imposed by Western countries.

They were later extended through May 31, with FINMA on Wednesday adding on a further two months.

“The measures will remain in place until 2 August 2022 owing to heightened international sanctions and the continuing risks for the bank’s liquidity situation,” FINMA said in a statement.