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Russia’s Gazprombank explores options for Swiss business, including sale

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Reuters UK

By Oliver Hirt ZURICH (Reuters) -Russia’s Gazprombank is exploring strategic options for its Swiss business, including a possible sale of all or parts of it, Zurich-based Gazprombank Switzerland said on Friday. Gazprombank is one of the last remaining channels for financing trade flows between Russia and Switzerland because the other major Russian banks are subject to sanctions over Moscow’s invasion of Ukraine. Its Swiss business, which employs about 80 people, is mainly active in trade and export financing, including helping Swiss industrial groups finance exports to Eastern Europe. It also …

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