Russian Sberbank customers avoid sanctions: This is how the money flows to Europe!

Russian Sberbank customers avoid sanctions: This is how the money flows to Europe!

In recent years, it has become increasingly difficult for Russian bank customers to transfer money abroad, especially since the sanctions imposed after the Ukraine war. Nevertheless, Russia's largest bank, Sberbank, remains active and allows its customers to make money transfers abroad - despite all this. How Mercury According to reports, two Western banks in particular are being targeted: the British bank Revolut and the German N26 bank.

The sanctions have severely restricted payment transactions for Russian banks, but Sberbank customers are taking advantage of the opportunity to transfer money to Europe through unsanctioned Western banks. A bank employee confirmed that transfers per card number can be up to 500,000 rubles daily and up to three million rubles monthly. However, these transfers are difficult to trace.

Tricks against sanctions

How fr.de reported that Sberbank customers are circumventing international sanctions by transferring millions of dollars abroad. The flow of funds occurs through various complex transfer routes and often occurs through foreign intermediaries, where rubles are converted into cryptocurrencies. These crypto transactions allow users to bypass the difficulties of international payments.

What is particularly interesting is that Sberbank customers can transfer money via the app to numerous countries, including Abkhazia, Azerbaijan, Armenia and Turkey. However, direct transfers to EU countries are prevented, which limits the choice of recipients. The use of crypto has become central to payments as Russia's central bank has relaxed its stance on digital currencies to allow businesses alternative payment methods. Loud daily news These options are particularly attractive because Sberbank has been excluded from the SWIFT system since 2022, which severely limits access to the global financial system.

Monitoring and compliance

Despite these activities, both Revolut and N26 emphasize that they strictly adhere to sanctions laws and take potential violations seriously. N26 has implemented processes to monitor suspicious activity and may freeze transactions or block accounts if there are signs of irregularities.

Of course, it remains to be seen how the situation will develop. The tense relationship between Russia and the West could lead to further restrictions on payment transactions in the future. What is clear, however, is that Sberbank customers have found creative ways to continue moving their funds around the world, and the role of cryptocurrencies in these transfers is likely to continue to grow. While Sberbank is making it easier to circumvent sanctions, the regulatory challenge remains how to address these trends.