Alfa-Bank announced full-time work after sanctions against Aven and Fridman

The press service of Alfa-Bank told Kommersant that the work of the financial organization is going on as usual, its activities are not affected by the introduction sanctions from the United States against the co-founders of the organization Mikhail Fridman and Petr Aven.

“We are working as usual, this does not affect the activities of the bank,” the press service said. However, the credit institution did not answer the question of whether the sanctions would affect training to a deal to sell shares of two co-founders of the bank.

“Most likely, it will not affect in any way,” Dmitry Pozin, a partner in corporate practice at Stonebridge Legal, told Kommersant. “I think the parties initially structured the deal in such a way as to avoid the impact of sanctions. Well, it is obvious that settlements in US dollars are now impossible for sellers.”

“As far as I remember, the problem was the lack of permission to unfreeze assets from the UK and the European Commission,” says Ekaterina Makeeva, partner and head of the sanctions practice at A-PRO. deal.”

At the same time, according to her, problems may arise with assets registered in the US, investments in US assets and accounts in US banks, as well as settlements through them.

Today, August 11, US Treasury introduced to the sanctions list of Alfa-Bank co-founders Mikhail Fridman and Petr Aven. They were included in the SDN list, which implies the most stringent restrictions – their assets in the United States will be frozen, transactions with them are prohibited. US businesses and individuals will also face secondary sanctions for dealing with them.

In 2022, Messrs. Fridman and Aven came under blocking sanctions from the European Union and Great Britain. After they left the board of directors of Alfa-Bank and left the LetterOne investment group.

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