Sber had previously avoided working on the peninsula due to the threat of Western sanctions Russia’s largest bank, Sber – formerly known as Sberbank – is beginning operations in Crimea, nine years after the peninsula joined Russia following a referendum, the lender announced on Wednesday. The banking major couldn’t operate on the territory of Crimea due to US and EU sanctions imposed on the region after its reunification with Russia in March 2014. Sberbank’s Ukrainian subsidiary had operated on the peninsula before the referendum. After Sber became a target of sanctions imposed by the EU, the US and their allies o
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