Sberbank opens 1st branch in Crimea

ROSTOV-ON-DON. May 10 (Interfax) - Sberbank has opened its first branch in Crimea, on Sovetskaya Square in Yalta, an Interfax correspondent said.

"A good thing happening, revolutionary: the largest bank is opening its first branch in Crimea," Crimean leader Sergei Aksyonov said at the opening ceremony on Saturday.

In April it was reported that Sberbank planned to open its first Crimean branches in Yalta and Simferopol this year.

The bank announced the start of work in January. By late February, 30 stationary ATMs had begun operating in Crimea. In early March Sberbank announced that it had begun working with businesses.

Currently, Crimea has a limited number of banks, all of which have for years been under external restrictions.

The United States imposed blocking sanctions on Sberbank in early April 2022; several other countries later followed suit.