Source link : https://london-news.net/sberbank-unveils-sanctions-evasion-strategy-for-european-money-transfers-the-bell/
Sberbank, Russia’s largest bank, seems to have devised a method to circumvent Western sanctions and SWIFT restrictions by facilitating wire transfers to European banks through third-party intermediaries, as reported by the independent news source The Bell on Friday.
Following Russia’s invasion of Ukraine in 2022, Sberbank and other prominent Russian banks were disconnected from the SWIFT financial messaging service, significantly hindering their capacity to conduct international transactions.
The Bell, after conducting tests on this workaround and interviewing others who have successfully sent funds, revealed that Sberbank clients can transfer rubles through the bank’s mobile application to European cardholders with Revolut or N26.
The process involves routing the funds through a non-sanctioned intermediary, converting the money into cryptocurrency, and then passing it to a second intermediary who deposits euros into the recipient’s Revolut or N26 account.
Those receiving the funds reportedly see a sender name that is not linked to Sberbank, often appearing as a payment processor, a city in Central Asia, or a personal name.
This method seems to only work with Sberbank, as attempts to make similar transfers through other sanctioned banks, such as Gazprombank and T-Bank, have been unsuccessful, according to The Bell.
A representative from Sberbank’s customer service informed The Bell that transactions can reach up to 500,000 rubles (approximately $6,400), with a…
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Publish date : 2025-07-01 13:19:00
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