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Global Trade Alert

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Russia: President authorises the acquisition of Russian HSBC subsidiary by a local bank

Description

On 19 February 2024, the President of Russia issued Order No. 53-rp, authorising the acquisition of 100% of shares in the capital of HSBC Bank (RR) LLC, a Russian subsidiary of HSBC, by Expobank, a pr...

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Intervention Details

Intervention Type

Controls on commercial transactions and investment instruments

MAST Chapter

Capital control measures

Implementation date

19 Feb 2024

Revocation date

No revocation date

Implementation level

National

Affected flow

Outward

Announced as temporary

No

Eligible firms

firm-specific

Affected Trading Partners

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Affected Products

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