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Russia's Sberbank to close UAE office, blames it on sanctions
short by Srishty Choudhury / on Monday, 26 December, 2022
Russian lender Sberbank will be forced to close its office in the United Arab Emirates (UAE) early next year, First Deputy Chairman Alexander Vedyakhin said on Monday. He blamed sanctions pressure for the move. Sberbank is one of many major Russian banks to have been blocked from the international SWIFT payments system after Russia's invasion of Ukraine on February 24.
read more at Reuters