U.S. adds Sberbank chief Herman Gref to sanctions list

MOSCOW. March 24 (Interfax) - Sberbank chief Herman Gref has been added to U.S. sanctions lists, according to an OFAC (Office of Foreign Assets Control, a division of the U.S. Treasury Department responsible for sanctions enforcement) report.

Gref has been added to the SDN (Specially Designated Nationals List).

On February 24, 2022, the United States imposed correspondent and payable-through account sanctions on Sberbank. These are not blocking sanctions.

"Gref has been an advisor to Putin since the 1990s, during which time he occupied various and increasingly senior roles, including at the St. Petersburg Mayor's office. Additionally, Gref served as Russia's Minister of Economic Development and Trade from 2000 to 2007, a position to which he was appointed by Putin before becoming CEO of Sberbank. Gref is being designated today for being or having been a leader, official, senior executive officer, or member of the board of directors of the Russian government," OFAC said in the report.

Gref has led Sberbank since November 2007, before which he was Russian Economic Development Minister. In 2019, his term as Sberbank chief was extended for another four years (through November 2023).

Earlier on Thursday, Gref was added to UK sanctions lists.