News / Economy

Russia's SMP Bank: About 9 Billion Rubles Withdrawn Since Sanctions

A man carries a placard with currency rates at a currency exchange office in Sevastopol, Ukraine, March 24, 2014.
A man carries a placard with currency rates at a currency exchange office in Sevastopol, Ukraine, March 24, 2014.
Reuters
Russian bank SMP showed the impact of U.S. punitive measures over Ukraine on Monday, saying around nine billion rubles [$248 million] had been withdrawn by depositors since Washington imposed sanctions against two of its shareholders last week.

Washington imposed sanctions on Thursday against 20 Russians close to President Vladimir Putin over Moscow's involvement in the Ukraine crisis, including Boris Rotenberg and his older brother Arkady, the co-owners of SMP Bank.

SMP CEO Dmitry Kalantyrsky told a news conference that an estimated four billion rubles had been withdrawn by individuals and five billion by organizations.

On Friday, SMP said Visa and MasterCard had stopped providing services for payment transactions for its clients. On Sunday service had resumed, it said.

Kalantyrsky said the stoppage of services had been an over-zealous reaction because sanctions were imposed on the shareholders, not the bank.

“[The shareholders] expressed their willingness, if necessary, to support the bank with money,” Kalantyrsky said, but stressed the bank has enough liquidity.

St. Petersburg-based Bank Rossiya, which was sanctioned alongside its chairman and largest shareholder Yuri Kovalchuk, said separately in a statement it had asked its clients to refrain from making foreign currency payments to accounts at the bank due to the U.S. sanctions.

Kovalchuk said in a television interview on Sunday the sanctions had backfired by helping him win new clients among patriotic Russians. Russian President Vladimir Putin said last week that he would open an account at the bank.

  • Ukrainian tanks are transported from their base in Perevalne, outside Simferopol, Crimea, March 26, 2014.
  • Ukrainian soldiers transport their tanks from their base in Perevalnoe, outside Simferopol, Crimea, March 26, 2014.
  • Russian police cars drive and Ukrainian soldiers walk behind Ukrainian tanks at Perevalnoe, outside Simferopol, Crimea, March 26, 2014.
  • Crimean retirees line up to get their pensions in Russian rubles inside a post office in Simferopol, Crimea, March 25, 2014.
  • Ukrainian marines prepare to leave their base in Feodosia, Crimea, March 25, 2014.
  • Russian sailors stand on board the ship Aleksandrovets at the port of Sevastopol, Crimea, March 25, 2014.
  • Ukrainian sailors leave the Konstantin Olshansky navy ship in the bay of Donuzlav, Crimea, March 24, 2014.
  • People line up to apply for Russian passports in Sevastopol, Crimea, March 24, 2014.
  • A man carries a placard with currency rates at an exchange office in Sevastopol, Crimea, March 24, 2014.

You May Like

Pundits Split Over Long-Term US Role in Afghanistan

Security pact remains condition for American presence beyond 2014; deadline criticized More

US Eyes Islamic State Threat

Officials warn that IS could pose a threat to US homeland More

Video Ukraine: Captured Troops Proof of Russian Role in Separatist Fight

Moscow says Russian troops crossed into Ukrainian territory by mistake More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Scientists Unlock Mystery of Bird Flocksi
X
George Putic
August 25, 2014 4:00 PM
How can flocks of birds, schools of fish or herds of antelope suddenly change direction -- all the individuals adjusting their movement in concert, at seemingly the same time? British researchers now have some insights into this behavior, which has puzzled scientists for a long time. VOA's George Putic has more.
Video

Video Scientists Unlock Mystery of Bird Flocks

How can flocks of birds, schools of fish or herds of antelope suddenly change direction -- all the individuals adjusting their movement in concert, at seemingly the same time? British researchers now have some insights into this behavior, which has puzzled scientists for a long time. VOA's George Putic has more.
Video

Video Ukraine: Captured Troops Proof of Russian Role in Separatist Fight

Ukrainian officials say they have captured Russian soldiers on Ukrainian territory -- the latest accusation of Moscow's involvement in the conflict in eastern Ukraine. VOA's Gabe Joselow reports from the Ukrainian side of the battle, where soldiers are convinced of Russia's role.
Video

Video Rubber May Soon Come From Dandelions

Synthetic rubber has been around for more than a century, but quality tires for cars, trucks and aircraft still need up to 40 percent or more natural rubber content. As the source of natural rubber, the rubber tree, is prone to disease and can be affected by bad weather. So scientists are looking for replacements. And as VOA’s George Putic reports, they may have found one in a ubiquitous weed.
Video

Video Jewish Life in Argentina Reflected in Yiddish Tango

Jewish people from across Europe and Russia have been immigrating to Argentina for hundreds of years. They brought with them dance music that was eventually mixed with Argentine tango. The result is Yiddish tango -- a fusion of melodies and cultural experiences that is still evolving today. Elizabeth Lee reports on how one band is bringing Yiddish tango to Los Angeles.
Video

Video Peace Returns to Ferguson as Community Tries to Heal

Thousands of people nationwide are expected to attend funeral services Monday in the U.S. Midwestern city of St. Louis, Missouri, for Michael Brown, the unarmed African-American teenager who was fatally shot by a white police officer August 9 in the St. Louis suburb of Ferguson. The shooting touched off days of violent demonstrations there, resulting in more than 100 arrests. VOA's Chris Simkins reports from Ferguson where the community is trying to move on after weeks of racial tension.
Video

Video Meeting in Minsk May Hinge on Putin Story

The presidents of Russia and Ukraine are expected to meet face-to-face Tuesday in Minsk, along with European leaders, for talks on the situation in Ukraine. Political analysts say the much welcomed dialogue could help bring an end to months of deadly clashes between pro-Russia separatists and Ukrainian forces in the country's southeast. But much depends on the actions of one man, Russian President Vladimir Putin. VOA's Daniel Schearf reports from Moscow.
Video

Video Artists Shun Russia's Profanity Law

Russia in July enacted a law threatening fines for publicly displayed profanity in media, films, literature, music and theater. The restriction, the toughest since the Soviet era, aims to protect the Russian language and culture and has been welcomed by those who say cursing is getting out of control. But many artists reject the move as a patronizing and ineffective act of censorship in line with a string of conservative morality laws. VOA's Daniel Schearf reports from Moscow.
Video

Video British Fighters on Frontline of ISIS Information War

Security services are racing to identify the Islamic State militant who beheaded U.S. journalist James Foley in Syria. The murderer spoke English on camera with a British accent. It’s estimated that several hundred British citizens are fighting for the Islamic State, also called ISIL or ISIS, alongside thousands of other foreign jihadists. Henry Ridgwell reports for VOA from the center of the investigation in London.

AppleAndroid

World Currencies

EUR
USD
0.7537
JPY
USD
103.79
GBP
USD
0.6032
CAD
USD
1.0957
INR
USD
60.522

Rates may not be current.