The EU Has Imposed Sanctions on Tinkoff and Alfa Bank

Tinkoff Bank, Alfa Bank, and Rosbank were included in the 10th package of EU sanctions. Their assets will be frozen and they will not be able to conduct transactions via SWIFT.

The EU explains the sanctions against these banks by the fact that the sector in which they operate provides "substantial income" to the Russian state. The new sanctions will also affect the banks' subsidiaries.