Report: EU to restrict Sberbank activity, to clarify food sanctions

MOSCOW, Jul 19 (PRIME) -- The new sanctions list discussed in the E.U. limits the activities of Sberbank in Europe, EUobserver reported on Tuesday citing the draft list.

“The new E.U. list categorically restricts the activities of Russian lender Sberbank in Europe — Russia's largest bank,” EUobserver reported.

The U.S. and U.K. imposed sanctions on Sberbank in March, and then E.U. sanctions were imposed against it. The sanctions imply freezing of the bank's assets and prohibition of transactions.

The E.U. plans to specify the sanctions to make it clear that companies delivering food from Russia will not be subject to restrictions, EUobserver reported.

“It is also tweaking its previous measures to make clear shipping firms bringing food from Russia to starving markets will not be penalised,” the report read.

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