Russian banks will have their right to withhold some data extended due to sanctions.

The Bank of RUSSIA announced plans to extend certain support measures that expire in 2025. These include the right of financial institutions not to disclose information sensitive to sanctions risk. According to the regulator's announcement, this measure is proposed to be extended until December 31, 2026.

Information that may not be published includes data on the ownership structure, members of management bodies and other employees, and information on the financial and economic activities of banks being reorganized “in the form of mergers, acquisitions, and transformations.”

By the end of 2026, the regulator will also allow banks to disclose financial statements and auditor's reports without sanctions-sensitive data, and will grant credit institutions that are not issuers the right not to fully disclose IFRS financial statements and auditor's reports thereon.

"The regulator will continue to publish bank financial statements without sensitive information, and the information on regulations already published on the Bank of Russia's website is planned to be supplemented with the values ​​of the national short-term liquidity coverage ratio. This procedure will help maintain a balance between the market's need for information and limiting the risk of sanctions for banks and their clients," the Central Bank's website states.

The pause in data disclosure has been in effect since March 2022, when, amid sanctions, the regulator allowed market participants to conceal ownership information and later removed the relevant information from its website. Since then, the measure has been extended several times, most recently until the end of December 2025.

Sanctions against banks were Western countries' response to the deployment of Russian troops in Ukraine. Currently, restrictions apply to both systemically important and private Russian banks, such as Sberbank, VTB, Alfa-Bank, Gazprombank, Promsvyazbank, MTS Bank, T-Bank, and others. Russian authorities consider the sanctions illegal. President Vladimir Putin called the restrictive measures an attempt to exert pressure. He noted that, "despite certain losses," Russia continues to feel "confident" and "stable."

ReadPIONERPRODUKT .by inTELEGRAM .