Central Bank official on ongoing Sodbusinessbank conflict

Actions of Sodbusinessbank employees should be considered to be a criminal violation rather than an administrative offence, Senior Deputy Chairman of the Russian Central Bank Andrey Kozlov believes. The past four days have showed us that the Russian Central Bank was right in revoking Sodbusinessbank's license under the law on the prevention of money laundering and financing of terrorist activities, Kozlov stressed.

Currently several unidentified gunmen prevent the interim management of the bank from entering the bank's headquarters to work.

According to Kozlov, the Russian Central Bank will initiate a proceeding on the liquidation of Sodbusinessbank. The ongoing conflict makes this measure reasonable, as it will pay compensations to customers of the bank, he emphasized.