FINMA extends protective measures at Sberbank (Switzerland) AG

The Swiss Financial Market Supervisory Authority FINMA is extending the duration of its measures at Sberbank (Switzerland) AG until 1 September 2022.
On 4 March 2022, FINMA announced that it had taken protective measures at Sberbank (Switzerland) AG to protect the bank’s creditors. These included a deferral of the bank’s obligations from deposits and a wide-ranging ban on payments and transactions (cf. press release). These measures were already extended on 1 June 2022 (cf. news). 

After the measures were partially lifted for a short time (cf. press release) so that the bank could settle claims of non-sanctioned creditors, the measures are now being extended until 1 September 2022 owing to heightened international sanctions. The investigating agent appointed by FINMA will continue to perform their duties.