The Tinkoff Bank application disappeared from the App Store

Tinkoff Bank came under EU sanctions at the end of February. Also, the App Store cannot download the Uralsib, Primorye, Livoberezhny and Zenith applications, which are under US restrictions.

The mobile application of Tinkoff Bank disappeared from the App Store, RBC correspondents were convinced. On February 25, the bank, among others, fell under EU sanctions.

Tinkoff Bank confirmed this information and assured that the applications already downloaded would continue to work. "We'll be back soon with details on how to download apps safely and answer other important questions," the bank said.

What will happen to Tinkoff Bank and TCS Group shares after EU sanctions Pro

Also, Tinkoff Investments, Tinkoff Mobile and other applications of the organization are not available for App Store users.

The broker previously reported that after being included in the sanctions list, the EU would transfer clients' assets to another company.

In addition, applications from a number of other banks, including Uralsib, Primorye, Levoberezhny and Zenith, can no longer be downloaded from the APPLE store. On the anniversary of the outbreak of hostilities in Ukraine, the United States imposed sanctions against them and seven other financial institutions.

Until February 24, Tinkoff was one of three systemically important banks that were not subject to Western sanctions, now only Raiffeisenbank and UniCredit Bank are on this list. Experts interviewed by RBC noted that its falling under EU sanctions would have a similar effect as with other banks: limiting correspondent accounts, limiting work with European startups and financial institutions, possible effects on SWIFT and membership in other organizations and associations. Most clients would likely not be affected by the restrictions, they suggested. The bank said that they had prepared for the sanctions and they would not significantly affect its work.

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Together with Tinkoff Bank, Alfa-Bank and Rosbank fell under EU sanctions. Previously, the United States imposed restrictions against them. The Alfa-Bank application disappeared from the App Store in April last year, but later, as the media noticed, its analogues appeared there.