Create Post
Gazprombank to discontinue Swiss operations By Reuters
A man walks past the logo of Gazprombank during the Saint Petersburg international gas forum in Saint Petersburg, Russia September 15, 2022. REUTERS/Anton Vaganov ZURICH (Reuters) -Russia's Gazprombank has decided to cease operating in Switzerland after "a strategic review of various options", it said on Monday. The bank had been one of the last remaining channels for financing trade flows between Russia and Switzerland because other major Russian banks are subject to sanctions over Russia's invasion of Ukraine. The Zurich-based bank, which was mainly involved in trade and export finance, decided to discontinue its operations in Switzerland after launching a review of its business in July, including a possible sale. It also financed the extraction, transport and processing of raw materials from Russia to Western Europe for commodity traders. Source: Investing.com #Gazprombank
- 1
- 0
- ₹0
