The US is contemplating on imposing sanctions against Russia’s third-largest bank by assets, serving as a hub for gas payments with Europe and being connected with SWIFT.
Therefore, the administration of the US President plans to introduce additional financial restrictions. Gazprom will cease to be the largest Russian creditor, playing a key role in energy deals, in case of imposition of sanctions by Washington. A decision on Gazprombank will be made by the end of November 2024.
It is important to note that Gazprom owns 33% of Russian Gazprombank directly, and its pension fund, which has not fallen under strict sanctions yet, owns another 40%.
Gazprombank avoided being included in the black list of the EU, and only the United Kingdom imposed sanctions against the bank.
