From: New Voice of Ukraine 🇺🇦
The U.S. is poised to sanction Gazprombank, Russia’s third-largest state-owned bank, cutting its access to the U.S. financial system and SWIFT, therefore disrupting its energy trade with Europe, Nikkei media outlet reported on Nov. 18.
This potential sanction marks another step in isolating Russia from the global financial system, as the West aims to limit the Kremlin’s economic maneuverability amidst ongoing geopolitical tensions.
Gazprombank, partially owned by Gazprom (Russian majority state-owned multinational energy corporation) and its pension fund, has largely avoided severe Western sanctions until now.
It will join other Russian financial giants like Sberbank, which has been cut off from SWIFT and subjected to extensive sanctions from the U.S., EU, and other allies.
The proposed measures will halt all transactions with U.S. banks and are expected to be finalized by late November. The Biden administration has already briefed G7 partners on this decision.
Voice of Ukraine 