PJSC SOVCOMBANK

Designation identifiers

UKSL unique ID

RUS0255

OFSI group ID

14200

Designation type

Entity

Date designated

28 February 2022

Last updated

9 April 2025

Regimes

• The Russia (Sanctions) (EU Exit) Regulations 2019

Designation sources

• UK

Sanctions imposed

• Asset freeze
• Trust Services Sanctions
• Director Disqualification Sanction
• Prohibition on Correspondent banking relationships and processing payments

Official reasons

• PJSC SOVCOMBANK is a large and profitable private bank which obtains a benefit from the Russian Government, and/or supports the Russian Government. PJSC SOVCOMBANK has received financing from the Russian Direct Investment Fund and therefore carries on business as a Government of Russia-affiliated entity. It also carries on business of economic significance to the Government of Russia in view of PJSC SOVCOMBANK'S strategic role in the Russian economy. Furthermore, PJSC SOVCOMBANK carries on business in a sector of strategic significance to the Government of Russia as it operates in the Russian financial services sector. The trust services sanctions were imposed on 21/03/2023.

Other information

• The prohibition on correspondent banking relationships and processing payments was imposed on 15/12/2023. The Director Disqualification Sanction was imposed on 09/04/2025.

Addresses

• Lines: Tekstilschik Avenue
• Lines: 46 Kostroma
• Postcode: 156000
• Country: Russia