MOSCOW, April 8. /TASS/. Sberbank has stopped all currency transfers to other countries due to sanctions, the bank's press service told TASS.

Transfers in rubles are available as usual, the press service added.

"From April 7, 2022, due to the introduction of restrictions on foreign exchange transactions with correspondent accounts in foreign banks, it is impossible to make transfers abroad in foreign currency. The ban applies to transfers at bank branches and in the Sberbank Online mobile application," the bank said.

Transfers made from April 6 will be returned to the client's account in full, together with bank fees. "Transfers abroad in bank branches in rubles are available to residents in the usual mode without restrictions," the bank stressed.

At the same time, the press service clarified that more than 90% of all transfers in Sberbank abroad are transfers in rubles to neighboring countries.

Sanctions against Russian banks

On April 6, US administration introduced full blocking sanctions against Russia’s Sberbank and Alfa-Bank. The sanctions include freezing bank assets and prohibiting US citizens and US companies from doing business with them. Transactions related to payment for energy carriers from Russia also fall under the restrictions.

Sberbank announced that amid tougher sanctions, it will continue to work as usual, and the sanctions will not affect its activities, since the system has already adjusted to previously imposed restrictions.

Alfa-Bank suspended settlements with counterparties from the US but will proceed as usual in other aspects.