SBI stops handling trade with sanctioned Russian entities, claims this report
India`s top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter.
"We have a significant international presence and we need to comply with U.S. and EU regulations as we are present in those jurisdictions and we cannot be seen as not adhering to these rules," said a senior SBI executive. Source: Reuters