EU to tighten sanctions against Russia's Sberbank

The European Union plans to add Sberbank, Russia's largest bank, to its black list of individuals and companies accused of supporting Moscow's invasion of Ukraine, according to a draft document seen by Reuters, Report informs.

Adding Sberbank to the black list would freeze its assets in the West and completely prevent transactions, with the exception of financial operations for the trade in food and fertilizer, an EU official told Reuters.

Russia's largest lender had already been excluded from the SWIFT bank messaging system, seriously hampering its ability to conduct business.