ZURICH, Reuters – The Swiss Financial Market Supervisor FINMA extended the ban on Wednesday for Sberbank, Russia’s biggest lender to Switzerland. This was in addition to other protection measures.

After Russia’s invasion, FINMA imposed measures against Sberbank (Switzerland), AG.

Later, they were extended to May 31 with FINMA adding two more months on Wednesday.

“Due to heightened international sanction and continuing risks for bank’s liquidity position, these measures will continue in force until 2 Aug 2022,” FINMA announced in a statement.