Russia's Sberbank with European Headquarters in Vienna under Pressure

PeopleExecutives ♦ Published: February 28, 2022; 22:58 ♦ (Vindobona)

The Austrian Financial Market Authority (FMA) has announced a moratorium on Sberbank Europe AG, a European subsidiary of the Russian state-owned Sberbank. Read what this means for Sberbank Europe and its customers.

Sberbank Europe AG, headquartered in Vienna. / Picture: © Wikimedia Commons / Sberbank Europe AG [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)]

Alongside the increased sanctions on Russia for its invasion of Ukraine, the Austrian Financial Market Authority (FMA) has announced a moratorium on Sberbank Europe AG, a European subsidiary of the Russian state-owned Sberbank, until the end of the day on March 1, 2022.

During the moratorium period, all payment and delivery obligations of Sberbank Europe AG towards its creditors are suspended.…