OFAC sets until May 25 as deadline for finalizing dealings with Sberbank, VTB, Otkritie, Sovcombank, VEB equities

MOSCOW. Feb 25 (Interfax) - The United States Department of the Treasury's Office of Foreign Assets Control (OFAC) has required that all U.S. entities finalize transactions with debts and equities of the sanctioned Russian banks by May 25, as follows from a general license published by OFAC along with the decision on sanctions.

The license mentions the banks subject to blocking sanctions, i.e. VTB , Otkritie, Sovcombank, and the VEB.RF state corporation, as well as Sberbank , which is subject to a ban on opening correspondent accounts with U.S. financial institutions.