Banking
Britain Mistakenly Puts Russian Central Bank’s Address on Sanctions List
Published by maria gbaf
Posted on February 23, 2022
2 min readLast updated: February 8, 2026
Add as preferred source on Google
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on February 23, 2022
2 min readLast updated: February 8, 2026
Add as preferred source on GoogleLONDON (Reuters) -Britain on Tuesday mistakenly assigned the address of the Russian central bank to a privately held bank with close links to Russian President Vladimir Putin that was the target of sanctions announced by Prime Minister Boris Johnson.
LONDON (Reuters) -Britain on Tuesday mistakenly assigned the address of the Russian central bank to a privately held bank with close links to Russian President Vladimir Putin that was the target of sanctions announced by Prime Minister Boris Johnson.
Johnson slapped sanctions on five private banks including Bank Rossiya, which the government said was “privately owned by elite Russian billionaires with direct links to Putin”, but spared Russia’s largest state banks for now.
The government mistakenly listed Bank Rossiya’s address as “Neglinnaya, 12, Moscow, 107016, Russia” which is the address of Russia’s central bank, known in Russian as “Bank Rossiya.”
The private Bank Rossiya is based in the northern Russian city of St Petersburg. Neglinnaya Street in Moscow has been home to a Russian or Soviet central bank office for at least a century.
The British foreign office later issued an update to make “administrative corrections to two listings under the Russia sanctions regime” which gave the bank‘s correct address.
The Russian central bank in Moscow did not reply to a Reuters request for comment, but a source close to the bank said their understanding was that it was a mistake and that it had had no impact on the bank’s operations.
(Reporting by Guy Faulconbridge and Dmitry Zhdannikov in London and Andrey Ostroukh in Moscow; Editing by Mark Heinrich and Jonathan Oatis)
A central bank is a national institution that manages a country's currency, money supply, and interest rates. It oversees the banking system and implements monetary policy to maintain economic stability.
Foreign exchange, or forex, refers to the global marketplace for trading national currencies against one another. It is crucial for international trade and investment.
Cryptocurrency is a digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, making it resistant to fraud and counterfeiting.
Investment is the act of allocating resources, usually money, in order to generate income or profit. It can take various forms, including stocks, bonds, real estate, and other assets.
Explore more articles in the Banking category
