The Ministry of Finance demands to suspend foreign participation in Alfa-Bank

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AK&M 24 April 2024 14:36

The Ministry of Finance appealed to the Arbitration Court of the Moscow Region with an application to suspend the exercise of ABH Financial and Alfastrakhovanie Holdings corporate rights in relation to AB Holding JSC and UNS-Holding LLC. This is stated in the message of the ministry.

On the part of foreign holding companies - owners of these companies (ABH Financial) and (Alfastrakhovanie Holdings), in the context of "anti-Russian" sanctions, actions are being carried out that impede the activities of Alfa-Bank and Alfastrakhovanie, the message emphasizes.

On April 1, 2024, the Government of the Russian Federation included AB Holding JSC (the main business company of Alfa-Bank) and UNS-Holding LLC (the main business company of AlfaStrakhovanie) in the list of economically significant organizations, granting the Ministry of Finance the right to apply to the court for the suspension of the exercise of corporate rights by foreign holding companies in their attitude.

Alfa-Bank JSC was founded in 1990 and is a universal bank that carries out most of the main types of banking operations represented on the financial services market.

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