EU Sanctions Deputy Bank of Russia Chairman Sergey Belov
Quick Look
- The European Union has imposed sanctions on Sergey Belov, Deputy Chairman of the Bank of Russia, for overseeing departments including cash circulation and field institutions.
- He is cited for managing banking services in front-line areas and occupied Ukrainian territories, facilitating the forced transfer to the Russian rouble.
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Why It Matters
The European Union has imposed sanctions on Sergey Belov, Deputy Bank of Russia Chairman, for his role in overseeing departments including cash circulation and field institutions. He is responsible for managing banking services in front-line areas and occupied territories, facilitating the forced transfer to the Russian rouble.
BRUSSELS, July 23. /TASS/. The European Union has imposed sanctions against Deputy Bank of Russia Chairman Sergey Belov, according to a resolution of the EU Council, published in the Official Journal of the European Union.
"Within the Bank of Russia, he oversees the Cash Circulation Department, the Field Institutions Department, the Administrative Department, and the Russian Union of Cash Collection Divisions (ROSINKAS)," the Journal said.
"As Deputy Governor, he manages field institutions near front-line areas that provide banking services to Russian forces and occupied territories, facilitating the forced transfer to the Russian rouble. Furthermore, the Central Bank opened branches in annexed Ukrainian regions and facilitated the expansion of state-linked banks, integrating occupied territories into Russia’s financial system."
