In 2022, some Russian banks are under sanctions. In the article we will give a list of banks that are and are not subject to restrictions and how this will affect customers.
Which banks were subject to sanctions in 2022
Basically, sanctions restrictions apply to state-owned banks. The largest state-owned banks Sberbank and VTB were among the first to be subject to restrictions. In the lists we indicate the largest and most popular banks.
State-owned banks under sanctions: Sberbank, VTB, Otkritie, Promsvyazbank, Rosselkhozbank, Gazprombank.
Private banks are also subject to minor restrictions. Despite the fact that they do not relate to the activities of the state, they are significant in Russia, therefore, they are also on the sanctions list.
Private banks under sanctions: AlfaBank (received one of the most severe restrictions on the list of private ones), Sovcombank, MKB.
Which banks are NOT subject to sanctions 2022
Of the state-owned banks, the following did not fall under the sanctions: PochtaBank, Ak Bars, Roseximbank, RNKB.
From the largest private banks did not get: Tinkoff, UniCredit, Uralsib, Renaissance, Russian Standard, Raiffeisenbank, Rosbank, St. Petersburg, Zenith.
What threatens the client with sanctions against banks
Organizations that have fallen under severe financial restrictions may have some difficulties in their work.
For example, mobile apps that are used by a large number of customers may be removed from the App Store and Google Play. Clients will not be able to make currency transfers, as well as buy and sell foreign shares.
For customers of banks that have fallen under less stringent sanctions, the situation with the service will not change. Several months have passed since the announcement of the first restrictions, so you can evaluate how such banks function.
Will the banks that were under sanctions close?
Most banks continue to work in the current conditions (issue loans and open deposits). Even if the bank has come under economic measures, there will be no critical changes in its work, so you should not immediately close deposits, postpone mortgages, etc.
There is no threat of closure of banks under sanctions, especially since this will not affect large organizations that have prepared schemes of action for such cases.
Is it worth it to be served in a bank that is under financial restrictions?
As noted above, if the bank in which you are served is under a system of restrictions, you should not rush to terminate cooperation with it and urgently withdraw money.
All financial institutions are currently operating as before (adjusting to new realities and adjusting some programs) and there are no risks for citizens.
The bans will not affect the existing loan in any way, it will be serviced under the current agreement.
Experts note that banks from the sanctions list offer more favorable conditions for deposits (one of the best rates on the market).
What has changed since the imposition of sanctions
The main changes that many citizens have noticed are the disabling of contactless payment, the disabling of Visa and MasterCard, and problems with mobile applications.
One of the main changes was the increase in interest rates on loans and mortgages. The key rate was raised to 20%. In this regard, mortgage rates have become higher, including preferential rates, which now stands at 12%.
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