Italy’s largest bank cuts euro transfers from Russia but exempts its subsidiary
Intesa Sanpaolo перестане приймати валютні платежі з РФ (Photo: facebook.com/intesasanpaolo)
Italy’s largest bank, Intesa Sanpaolo, will stop accepting euro payments from Russian banks, with the exception of its own Russian subsidiary, Russian newspaper Vedomosti reported.
Starting Jan. 15, 2025, Intesa Sanpaolo will introduce new rules for servicing the correspondent account of its Russian branch. Euro payments will be limited to commercial transactions involving accounts within Intesa Sanpaolo, its subsidiaries, and banks located in Italy.
Earlier reports revealed that the United States imposed sanctions against Russia’s Gazprombank in November. The bank had been processing payments for European countries’ purchases of Russian gas and was the last Russian state-owned bank with access to the SWIFT system and international financial transactions before the sanctions took effect.
Following the sanctions, several exceptions were made for Gazprombank, allowing certain transactions to continue.
Will you support Ukraine’s free press?
Dear reader, as all news organizations, we must balance the pressures of delivering timely, accurate, and relevant stories with requirements to fund our business operations.
As a Ukrainian-based media, we also have another responsibility – to amplify Ukraine’s voice to the world during the crucial moment of its existence as a political nation.
It’s the support of our readers that lets us continue doing our job. We keep our essential reporting free because we believe in our ultimate purpose: an independent, democratic Ukraine.
If you’re willing to support Ukraine, consider subscribing to our Patreon starting from 5$ per month. We are immensely grateful.
Please help us continue fighting Russian propaganda.
Truth can be hard to tell from fiction these days. Every viewpoint has its audience of backers and supporters, no matter how absurd.
If conscious disinformation is reinforced by state propaganda apparatus and budget, its outcomes may become deadly.
There is no solution to this, other than independent, honest, and accurate reporting.
We remain committed to empowering the Ukrainian voice to push against the muck. If you’re willing to stand up for the truth – consider supporting us on Patreon starting from 5$ per month. Thank you very much.
Will you help tell Ukraine’s story to the world?
Twenty years ago, most people hadn’t even heard of Ukraine. Today, the country is on everyone’s lips and everyone’s headlines. War pushed us on the front page. But there are many other things we do that we are proud of – from music and culture to technology.
We need your help to tell the world Ukrainian story of resilience, joy, and survival. If you’re willing to back our effort, consider supporting us on Patreon starting from 5$ per month. We are immensely grateful.
Follow us on Twitter, Facebook and Google News
