Gazprombank: The Big Russian Lender That Dodged Western Sanctions

Before Russia invaded Ukraine, U.S. officials drew up a list of Russian banks as potential sanctions targets. Gazprombank was among the candidates.

In the end, Russia’s third-largest bank remained largely untouched. The largest, Sberbank , has been cut out of U.S. dollar access. U.S. banks and companies are forbidden from doing any business with the second biggest, VTB, and another large lender, VEB. All four are state-controlled.