Promsvyazbank after falling under sanctions began to work in the Crimea

The bank began to serve individuals and businesses. Thus, Crimeans will be able to take consumer loans,

Promsvyazbank began to provide services to individuals and legal entities in the Crimea. This was reported in the press service of the bank.

“PSB started working in the Crimea, where it now provides its services to both retail clients and businesses. In particular, consumer loans are now available to residents of the peninsula, and businesses can open current accounts and connect to acquiring services,” the bank said.

The bank noted that they had already opened the first settlement accounts for Crimean entrepreneurs in Kerch, Simferopol and Sevastopol. “PSB became the first systemically important bank to offer its services in Crimea,” the press service added.

Singapore imposed sanctions against VTB, Promsvyazbank and VEB.RF Politics

After RUSSIA launched a special operation in Ukraine on February 24, several Russian banks, including PSB, came under US blocking sanctions . The American Ministry of Finance explained that Promsvyazbank would no longer be able to do business in the United States, and all the bank's assets in the country's jurisdiction were frozen. "U.S. citizens and entities are prohibited from doing business with him without special permission from the Office of Foreign Assets Control," the statement said.