ENA Global 2022-03-04 11:11:12 <p><strong>New Delhi, Mar 4 (KNN)</strong> The State Bank of India (SBI) has stopped the transactions processing of Russian entities on whom sanctions are imposed by the West over its invasion of Ukraine.</p> <p>According to the bank circular, it has made this decision in order to avoid sanctions on the bank itself for dealing with Russian entities or sectors under sanctions.</p> <p>No transactions involving entities, banks, ports or vessels appearing on a US, European Union or United Nations sanctions list would be processed irrespective of the currency of the transaction, said the media reports.</p> <p>Commercial Indo Bank Llc in Moscow is a joint ventured operated by SBI and Canara Bank, where the latter has 40 per cent stake.</p> <p>Last week, the G-7 imposed punitive sanctions against the Russian central bank and have also decided to remove Russian banks from the SWIFT inter-banking system. <em><strong>(KNN Bureau)</strong></em></p> 28542 https://knnindia.co.in/news/newsdetails/global/sbi-halts-transactions-process-of-russian-entities-sanctioned-by-west 2022-03-04 11:11:12 knnindia.co.in