EU sanctions 5 Russian banks including Russia’s largest, Sberbank

by The Daily Lede

The EU has imposed sanctions on five Russian banks, among the five, Sberbank, Russia’s largest financial institution.  The others include VTB, Gazprombank, VEB, and the Agricultural Bank.  However, Russian subsidiaries operating within the European Union have been exempted from restrictions.  Restrictions on debt issuance greater than 90 days applies only to parent structures and their subsidiaries outside the EU.