Sberbank customers evade sanctions: money flows to Europe revealed!

Sberbank customers evade sanctions: money flows to Europe revealed!

The sanctions against Russia have significantly affected payment transactions for Russian banks since the start of the Ukraine war. Despite these restrictive measures, there are alternative routes through which money transfers abroad, particularly to Europe, are still possible. An example of these mechanisms is Sberbank, Russia's largest bank, which has found means to facilitate these transfers. Loud Mercury Sberbank customers can transfer funds abroad through unsanctioned Western banks such as Revolut and N26, converting rubles into euros.

A Sberbank employee explained that transfers per card number can be processed up to 500,000 rubles daily and up to three million rubles monthly. These transfers are difficult to track, which makes them particularly attractive for Sberbank customers. Originally, after the restrictions imposed by the EU and the SWIFT system, the bank was an important player in international payment transactions, whose access was severely restricted.

Transfer methods and countries

Sberbank customers use complex transfer routes to send funds to Europe. These transfers usually occur through foreign intermediaries, where rubles are converted into digital currencies. Bypassing the sanctions allows amounts to be transferred as private transfers or service fees. Money can be transferred to a variety of countries, including Azerbaijan, Armenia, Belarus, Kazakhstan and Turkey, but not to EU member states.

Russian and German companies have reportedly started turning to banks in China, Kazakhstan and Turkey. However, Chinese institutions have now stopped payment transactions with Russian banks for fear of sanctions. This has further increased the pressure on alternative banking systems.

Reactions of the service providers

The offer of Revolut and N26, which are very active in the field of digital banking services, remains in place despite the attempts to circumvent them. Both banks emphasize that they comply with sanctions regulations and monitor suspicious activity. N26 conducts continuous audits to identify and prevent abuse and possible circumvention of sanctions controls. These measures are part of their company policies to ensure that no financial transactions violate regulations.

While Sberbank continues to facilitate money transfers abroad in various ways, the international financial landscape remains unsettled due to sanctions. The complex handling of money transfers between Russia and Europe is becoming an increasingly relevant issue in the current economic situation.