(MENAFN) Sber, previously known as Sberbank, the largest bank in Russia, said on Wednesday that it is going to start doing business in Crimea, nine years after the peninsula voted to join Russia.
Due to restrictions imposed on Crimea after its reunification with Russia in March 2014, the financial giant was unable to conduct business there. Before the referendum, Sberbank's Ukrainian unit conducted operations there.
Deputy Prime Minister of Crimea Georgy Muradov urged the bank to begin operations in the area as soon as possible after Sber was made the target of sanctions by the European Union, the United States, and its allies due to Moscow's military campaign in Ukraine.
“Gradually, during 2023, the bank's offices will be opened, the first of them in the largest cities will start operating in the first half of the year,” Sber’s press office stated in a declaration. Noting that “all the necessary services will be deployed throughout the year.”
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