25 Feb 2022 03:24

Gazprombank says it sees no effect of updated U.S. sanctions on its operations

MOSCOW. Feb 25 (Interfax) - The new United States sanctions updating the terms under which Gazprombank cannot raise funds on the U.S. capital market have not affected the bank's operations, Gazprombank said in a statement.

"The press release by the U.S. Department of the Treasury circulated on the evening of February 24 and the following updated U.S. regulation announce restrictions on Gazprombank as regards the raising of funds on the American capital market for a term over 14 days. Such restrictions are not blocking (SDN) and do not affect the bank's regular operations," Gazprombank told Interfax.

Gazprombank has been under the U.S. and European Union sectoral sanctions since summer 2014, which prohibit it from receiving long-term financing.

Gazprombank said it is continuing to serve its retail and corporate clients as usual. "All obligations to them are being honored in full. All of the bank's customers, including both individuals and legal entities, have continuous access to their funds and all services," it said.