New sanctions imposed on officials of major Russian banks

The United States imposed sanctions on administrative 8 at Sberbank and 27 others at the Russian Gazprom Bank, restrictions on Moscow Industrial Bank and 10 subsidiaries.

1. A statement distributed by the White House read
2.  "The United States has imposed sanctions on eight executives of Sberbank
3. the largest Russian financial institution of unique importance to the Russian economy.
4. which owns about one third of all Russian banking assets.

27 executives from Gazprom Bank, a large Russian bank that provides business to Gazprom, one of the world's largest gas exporters, Moscow Industrial Bank and 10 subsidiaries.

The United States Government confirmed that the new restrictions were not related to the obstruction of Gazprom Bank's operations and the freezing of its assets.

"Just to clarify, we are not imposing sanctions on Gazprom Bank in the same way that we imposed on Sberbank, VTP or any other major Russian bank... We don't ban any dealings with Gazprom Bank.

Sanctions against Russia.. European banks record billions of "preliminary losses"

The largest European banks have revealed initial losses to EU banks as a result of Russia's sanctions, noting that they have so far exceeded 5 billion euros.

According to the French business newspaper "Les echos", the Italian bank UniCredit recorded the largest losses - 1.3 billion euros, followed by the Dutch bank ING with losses of 834 million euros, as well as the Italian banking group Intesa Sanpaolo, which lost 801 million euros.

The list also included the French bank Credit Agricole (604 million euros)

 the bank BNP Paribas (433 million euros), the Societe Generale (354 million euros), the German bank Commerzbank (334 million euros), the British bank HSBC (237 million euros) and Raib

It is remarkable that Societe Generale, which announced after the start of the Russian military operation, the termination of its activities in Russia and the sale of its stake in Russian bank Rosebank to Russian company Interross, will lose 3.1 billion euros in this transaction.

As the paper explains, the transaction is not yet complete, and therefore these losses are not included in the current statistics. These statistics also do not include the risks associated with "at least 1 billion euros" of loans granted through overseas companies to Russian customers.

• According to the paper, Austria's Raiffeisen Bank increased operating profits by 83%, to 337 million euros, due to increased customer demand for the Russian ruble.

• The paper noted that these are only preliminary data and that future losses will continue to grow.

• According to the European Central Bank, "European banks' risk for Russian customers at the end of 2021 was around 100 billion euros, of which only a" small fraction "would be sanctioned.

The paper also warns that future banks could face "byproduct effects", which will be triggered by accelerated inflation, and in conjunction with continued quarantine measures in China, a global economic recession could end.