The EU disconnects Sberbank from SWIFT: what is now happening with shares on the stock exchange

From June 14, the EU disconnects the largest Russian bank Sberbank, as well as Rosselkhozbank and Moscow Credit Bank from the SWIFT interbank system as part of the sixth package of sanctions against Russia due to the war in Ukraine.

However, according to the Russian BBC service, representatives of sanctioned banks claim that disconnecting from SWIFT will not greatly affect their work.

“Sberbank said they are working as usual, and disconnecting from SWIFT does not change the situation with international settlements”the message says.

As for the Moscow Credit Bank, they noted that the term for making payments abroad could increase.

If we talk about Rosselkhozbank, then it also claims that the Russian banking system has all the necessary conditions to ensure uninterrupted autonomous operation.

How much are bank shares worth on the stock exchange?

As of June 14, 12:02 Kyiv time, the value of Sberbank shares was RUB 119.38 However, according to Investing, in the morning there was a drop in the stock market of the Moscow Exchange. Among them was Sberbank, whose share at 9:30 was worth 117.03 rubles (-0.88%), turnover – 659.55 million rubles.

Dynamics of the value of Sberbank shares for the year / Photo: screenshot

The value of the shares of the Moscow Credit Bank at 12 noon on June 14 was 5.16 rubles, however, since morning the shares have been in a state of decline. The situation is the same with Rosselkhozbank.

Dynamics of the value of shares of the Moscow Credit Bank for the year / Photo: screenshot

EU disconnected seven Russian banks from SWIFT

Earlier, since the beginning of the war in Ukraine, the ambassadors of the European Union announced the disconnection of seven Russian banks from the SWIFT financial system.

Their list included:

• VTB;
• “Russia”;
• “Opening”;
• Novikombank;
• Promsvyazbank;
• Sovcombank;
• VEB.

Some countries, notably Poland, have pushed for more banks to be included in the list. EU ambassadors then did not disconnect Sberbank from SWIFT, as well as Gazprombank, partly owned by the Russian gas giant.

Recall that the EU countries approved the sixth package of sanctions against Russia. He assumes a ban on two-thirds of Russian oil, as well as disconnection of Sberbank from SWIFT.

Earlier, we told how in March Sberbank shares cost less than a sheet of A4 paper.