4 Oct 2022 14:10

Court grants Sberbank claim against former Ukrainian subsidiary

MOSCOW. Oct 4 (Interfax) - The Moscow Arbitration Court on Tuesday granted a claim by Sberbank against its former Ukrainian subsidiary, International Reserve Bank.

The claim was for debt on interbank loans amounting to 87.5 million euros plus 7.8 million euros interest and $333.9 million plus $70.7 million interest.

"The claim is granted in full," according to the court's website.

No other information has yet been published.

Sberbank claimed debt under an agreement dated September 9, 2005.

Sberbank filed a claim against International Reserve Bank for 23.4 billion rubles in July.

The National Bank of Ukraine revoked International Reserve Bank's banking license on February 25, and liquidated it.

In early April, the Verkhovna Rada of Ukraine approved a decree of President Vladimir Zelensky, in accordance with which 100% shares of International Reserve Bank, owned by Sberbank of Russia, were seized. Sberbank responded by saying that it plans to challenge the decision of the Ukrainian authorities in arbitration.