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US slaps sanctions on Sberbank CEO Gref — Treasury Department

The department recalled that on February 24, the US authorities imposed restrictions against Sberbank itself, instructing US financial institutions to close its accounts

WASHINGTON, March 24. /TASS/. The US Treasury Department has included the head of Sberbank Herman Gref on its sanctions list. This was according to a written statement the department released on Thursday.

According to the statement the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is "designating Herman Gref, the head of Sberbank"[as one of the individuals on the sanction list].

"The list includes dozens of Russian defense companies, 328 members of the Russian State Duma, and the head of Russia’s largest financial institution. This action aligns with similar actions taken by the European Union, the United Kingdom, and Canada," the Treasury says.

The department recalled that on February 24, the US authorities imposed restrictions against Sberbank itself, instructing US financial institutions to close its accounts.

"As CEO of Sberbank, Gref oversees not just Russia’s largest multi-billion dollar, multinational financial institution, but also a large number of companies owned by Sberbank in other industries," the US Treasury says.

"Gref is being designated today for being or having been a leader, official, senior executive officer, or member of the board of directors of the government of the Russian Federation," according to the statement.

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