Shares of Sberbank fall in price on the news about the disconnection from SWIFT

“This package of sanctions includes other tough measures: disconnecting the largest Russian bank Sberbank from SWIFT, banning three more Russian state broadcasters and imposing sanctions on those responsible for war crimes in Ukraine,” said the head of the European Council, Charles Michel, in Brussels (quoted by TASS ).

Sberbank itself sees no threat in this decision . The financial institution noted that they continue to work as usual, despite the current Western sanctions.

“Disconnecting from SWIFT does not change the current situation in international settlements. Domestic transactions do not depend on SWIFT and will be carried out by the bank in the standard mode, ”Sberbank said in a statement.