Sberbank after 5 months has closed the deal on the sale of the Swiss subsidiary - the company

For half a year, the deal was hanging by a thread because of the sanctioned nature of the asset.

The value of the deal was below the bank's capital ($500 million).

The main takeaway from this news is that a U.S. citizen obtained a personal license to deal with a sanctioned Sberbank.

This sets a precedent, which may be followed by new deals with sanctioned assets.