GAZPROMBANK: Russian Financial Institution Under Comprehensive Sanctions
Profile of sanctions against Gazprombank, major Russian bank with energy sector ties, including comprehensive restrictions and enforcement measures.
gavel Sanction Record
| Name / Identifier | GAZPROMBANK: Russian Financial Institution Under Comprehensive Sanctions |
| Type | Entity |
| Sanctioned By |
UNITED STATES
EUROPEAN UNION
UNITED KINGDOM
|
| Date Listed | 2022-02-24 |
| Status | ACTIVE |
| Legal Basis | E.O. 14024, Regulation 2022/263 |
Additional Details
Sanctions Overview
Gazprombank, Russian third-largest bank with deep ties to the energy sector, has been subject to escalating sanctions targeting its financial operations, energy sector connections, and role in facilitating Russian government activities.
Issuing Authority
- United States: OFAC SDN List (2022)
- European Union: Council Regulation 2022/263
- United Kingdom: Russia Regulations 2019
- Switzerland: Federal Council sanctions
Sanctions Measures
U.S. SDN Designation
- Complete asset freeze globally
- Prohibition on all transactions with U.S. persons
- Secondary sanctions risk for non-U.S. entities
- SWIFT exclusion
EU Sanctions
- Asset freeze on bank and subsidiaries
- Prohibition on deposits from EU persons
- Restrictions on trade financing
- Correspondent banking prohibition
Evasion Mechanisms
- Transactions through non-sanctioned subsidiaries
- Cryptocurrency and alternative payment systems
- Trade-based financing arrangements
- Third-country intermediary banks
Impact Assessment
Full SDN designation significantly disrupted Gazprombank international operations but the bank maintains domestic functionality and continues to facilitate energy transactions.
Energy Sector Connections
Gazprombank plays central role in Russian energy sector financing, handling payments for gas exports. Sanctions have complicated but not eliminated energy-related financial flows.
Classification: UNCLASSIFIED // FOR OFFICIAL USE ONLY