Bank of Russia unveils measures to support banks hit by Western sanctions
“The Bank of Russia and the Russian government will provide all necessary assistance to banks sanctioned by Western states,” including the country’s two largest banks, VTB and Sberbank, the financial institution said in a statement.
“All operations of these banks in roubles will be carried out and appropriate services will be provided to all customers as usual,” it said.
“The Bank of Russia is ready to take additional measures to ensure the stability and continuity of the banks’ operational activities, to defend the interests of their creditors and savers,” it added.
Sberbank said on Thursday that all its systems and offices were continuing to operate “normally”, with its customers having “full access” to all their financial resources.
For its part, VTB announced that due to sanctions, the use of its Visa and Mastercard bank cards abroad was “impossible”.