Russian VTB Bank targeted by sanctions given month’s asset freeze reprieve by UK

A Russian bank that has been a top target of Western sanctions has been granted a 30 day reprieve by Britain to allow clients get a hold of their money and complete transactions, according to reports.

VTB Bank, Russia’s second biggest lender, has been given a month long exemption from asset freezes by Britain to “wind down any transactions”.

The exemption will end on 27 March.

The news was first by The i.

Bill Browder, a prominent campaigner against Russian corruption, told City A.M. giving individuals and companies access to their assets for a month “diminishes the effectiveness” of Britain’s sanctions.