Swiss monetary watchdog extends safety measures at Sberbank to Sep. 1

A view exhibits the emblem of Sber (Sberbank) on the St. Petersburg Worldwide Financial Discussion board (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Anton Vaganov

BERLIN, Aug 2 (Reuters) – The Swiss monetary market supervisory authority FINMA is extending the period of its safety measures at Sberbank Switzerland AG to Sept. 1 resulting from heightened worldwide sanctions, it mentioned on Tuesday.

In March, FINMA had introduced it was taking measures to guard the financial institution’s collectors, together with wide-ranging ban on funds and transactions. The measures have been partially lifted for a short while in July to permit the financial institution to settle claims of non-sanctioned collectors however at the moment are again to being prolonged.

“The investigating agent appointed by FINMA will proceed to carry out their duties,” mentioned the authority in a press release.

Writing by Miranda Murray; Enhancing by Kim Coghill

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