U.S. lifts sanctions off Bereke bank

The U.S. government removed Kazakh “Bereke bank” from its list of sanctioned financial institutions, according to the banks' press service.

The U.S. Treasury Department has removed Bereke Bank from the SDN sanctions list of the Office of Foreign Assets Control (OFAC).

Sberbank sold its Kazakh branch to Baiterek NUH in early September of last year after which the subsidiary was renamed Bereke Bank. The application to lift the sanction was sent in the same month.