1. Gazprombank (Switzerland) Ltd being a Swiss regulated entity operates in full compliance with the Swiss laws and regulations, including SECO regulations. Following SECO directives of preventing the circumvention of international sanctions, the Bank in no case helps its clients to avoid the sanctions imposed by the US and EU. While FINMA has not directly enforced foreign law against the Bank, Swiss supervisory law requires Gazprombank (Switzerland) to duly capture, limit and control its risks including legal risks. Accordingly, GPBS has put necessary procedures in place;

  2. GPBS being exempt in Switzerland according to SECO directives is allowed to issue long term financial instruments on Swiss capital market without authorization from the Swiss authorities as long as the bank is not acting on behalf of, or on the instructions of its parent company. The Bank is also allowed to act as a lead arranger or underwriter of securities issues or other financial instruments for its clients on Swiss capital market if acting not on behalf of, or on the instructions of its parent company;

  3. GPBS majority of Board of Directors being Swiss nationals are independent from the Gazprombank group as required by the FINMA circular 2008/24. The Bank is following the supervisory concept outlined by FINMA on 6 April 2011 and it is managed autonomously from its parent company (ring fence policy);

  4. Gazprombank (Switzerland) Ltd being fully aware of the applicable sectoral sanctions imposed by the US, EU and Switzerland made significant efforts to meet the legal requirements in order to facilitate all its commercial undertakings in utmost compliance with the respectively applicable sanctions regimes. As of now, no material impacts on Bank’s operations and/or financial situation could have been determined and the Bank will strive to keep the position as a global player and further strengthen its presence on European markets.