Ost-West Handelsbank has been removed from the list, according to the information on the office's website. The names under which the bank used to operate earlier – VTB Bank Deutschland and VTB Bank Europe – were also struck down.

Ost-West Handelsbank has been removed from the list, according to the information on the office’s website. The names under which the bank used to operate earlier – VTB Bank Deutschland and VTB Bank Europe – were also struck down.

  • SineIraEtStudio
    2·
    10 months ago

    Tldr: Germany took over control of the bank from Russia, so US removed it from the sanctions list.

    Relevant section:

    Germany-based Ost-West Handelsbank has been removed from the list, according to the information on the Treasury’s website. The positions with names under which the bank used to operate earlier – VTB Bank Deutschland and VTB Bank Europe – were also struck down.

    The U.S. announced extensive anti-Russian sanctions that also targeted VTB Bank at the offset of Moscow’s full-scale invasion of Ukraine on Feb. 24, 2022.

    In the wake of the sanctions, German authorities wrested control of the Frankfurt-based subsidiary from its Russian parent in April 2022 and appointed a special representative to help run it.

    VTB Europe officially changed its name to Ost-West Handelsbank in November 2023.