Are Russian Banks Sanctioned?
The direct answer on Russian bank designations.
TL;DR
TL;DR: Yes. The major Russian state banks are designated: Sberbank and VTB (February 2022, EO 14024), Promsvyazbank (February 2022), and Bank Rossiya (2014, EO 13661). US persons may not transact with them.
The designations
- Sberbank - designated Feb 2022, Russia's largest bank
- VTB - designated Feb 2022, full blocking
- Promsvyazbank - designated Feb 2022, defense-sector bank
- Bank Rossiya - designated 2014, among the first Crimea measures
The screening shape
Payments routed through designated Russian banks or their addresses are prohibited. The screen checks the counterparty and jurisdiction - the same three-surface call.