Tinkoff Bank and Alfa-Bank have appealed to the Court of the European Union to appeal the sanctions imposed against them. This is reported by Frank Media with reference to the EU court file.
The banks filed applications to the court on May 18 and 22. In addition to them, Rosbank sent a claim to appeal the sanctions — its appeal was submitted to the court on May 18.
In March 2022, due to the beginning of a special operation in Ukraine, large Russian banks began to disconnect from the SWIFT international payment system. The first in the list were VTB, banks Rossiya, Otkritie, Novikombank, Promsvyazbank, Sovcombank and VEB.RF. As part of the tenth package of sanctions, which was introduced on February 25, Alfa-Bank, Tinkoff Bank and Rosbank were subject to restrictions.
Due to the introduction of sanctions in 2022, there was a trend of customers moving from one bank to another. However, by the spring of 2023, the trend was overcome thanks to the adaptation of business to new conditions. Rosfinmonitoring and the Bank of Russia conducted targeted work with organizations to orient them to the relevant risks and measures to reduce them. Also, the Russian financial market began to pay less in dollars and euros and began to make payments in the national currencies of friendly countries more often.