UK Blacklists Six Russian Banks, Including Ozon Bank and Roseximbank

The United Kingdom has imposed sanctions on six Russian financial institutions, according to the UK's Office of Financial Sanctions Implementation (OFSI), as reported by Interfax on August 6.

According to the outlet, the newly sanctioned institutions are Ozon Bank, Roseximbank, Center-invest Bank, Realist Bank, Stavr Bank, and Teleport Bank.

The move follows the European Union's decision in July to place Ozon Bank under sanctions, as reported by Interfax.

At the time, a representative of Ozon Bank told Interfax that the restrictions applied only to the bank itself and not to other legal entities or businesses within the Ozon Group. The bank also stated that it does not hold stakes in other companies within the group.

“The bank has no assets abroad, does not conduct operations outside the country, serves its customers exclusively within Russia, and does not use the SWIFT system, relying only on Russia’s domestic financial infrastructure. Therefore, the new sanctions measures will not affect Ozon Bank,” the representative said.

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The latest sanctions come as Russian banks are struggling with a shortage of ruble liquidity needed to purchase federal government bonds, a key mechanism the Finance Ministry uses to finance the Kremlin's widening budget deficit.

According to The Moscow Times, Russia's budget deficit reached 5.7 trillion rubles (approximately $71.8 billion) in the first half of the year, largely due to defense spending exceeding planned levels.

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