# Gazprombank

Gazprombank (Russian: Газпромбанк), or GPB (JSC), is a private-owned Russian bank, the third largest bank in the country by assets. Since November 2014, Yuri Shamalov's Gazfond is its largest shareholder. Gazprombank is one of the main channels for payments for Russian oil and gas.
The bank’s principal business areas are corporate banking, retail banking, investment banking and depository services. Its banking activities also include securities trading, foreign exchange operations, precious metals operations, clearing operations and settlement services.
The bank has a distribution network of 43 branches and over 260 banking outlets located throughout the Russian Federation. GPB also has ownership interests in three other Russian banks. In addition, Gazprombank is represented in the market of Belarus through ownership interests in foreign bank: Belgazprombank (Belarus). Gazprombank (Switzerland) Ltd announced it was ceasing to trade in October 2022. Gazprombank also has representative offices in Mongolia, China and India.

## History

In August 2005 for 37.22 billion rubles, Gazprombank purchased Gazprom Media, the largest Russian media holding, which includes the former Media Most holdings of Vladimir Gusinsky including the Sem Days publishing house, Echo of Moscow, both the NTV channel and NTV Plus, and Izvestia newspaper, from the bank's parent company Gazprom. After Gazprom-Media took over "Media Most" in 2000, Gazprom-Media received Filipp Bobkov's entire former KGB 5th directorate (Political police) which was responsible for disinformation, control of dissidents, and executions including all of its employees, its database and the Filipp Bobkov founded security service that was accused of attempting an assassination in 1994 of Boris Berezovsky. The entire archive of 5th KGB Main Directorate was taken to Media-Most.
In 2012, OJSC Gazprom owned a 41.73% stake in Gazprombank and NPF Gazfond owned a 46.92% stake in Gazprom. Most of the stake in Yuri Shamalov's Gazfond is managed by Anatoly Gavrilenko's Lider Management which is part of the SOGAZ insurance group which, until March 2014, was controlled by the Vladimir Putin associated Rossiya Bank which has Yuri Kovalchuk as its largest shareholder. In March 2014 Rossiya bank sold its indirect control of Lider to Gasfond which has a 45% stake in Lider. As of November 2014, Gazfond is the largest shareholder of Gazprombank which controls Gazprom Media.
The bank was nominated in 2014 for the annual Emerging Market Bond Awards, hosted by EuroWeek.
In August 2022, the state capitalized Gazprombank by 50 billion rubles at the expense of the Russian National Wealth Fund. The authorized capital of the bank increased to 246.85 billion rubles. Now the state owns a share of 36.44%.
In September 2023, Gazprombank bought the MEGA shopping centre chain from IKEA. The chain consisted of 14 centres in various regions of Russia with a total area of 2.3 million sq.m.

### Sanctions

In July 2014, the United States Department of the Treasury imposed sanctions on Gazprombank OAO that prohibit U.S. citizens from providing it with new financing. In response, Gazprombank contracted former U.S. Senator Trent Lott to lobby on its behalf against the sanctions.
On February 24, 2022, US President Joe Biden announced sanctions against Gazprombank and other Russian financial institutions in response to Russia's invasion of Ukraine.
In March 2022, UK imposed sanctions on Gazprombank, which means that the bank is subject to asset freezes which locks it out of any resources held in Britain and prevents British firms from doing business with it.
On 25 January 2023, the US correspondent banks of Gazprombank advised that they were terminating their accounts, meaning that Gazprombank can no longer make transfers in US dollars.
On November 21, 2024 the US imposed sanctions on Gazprombank preventing the bank from handling any new energy-related transactions that touch the US Financial system, trading with any US persons or entities and freezing its US Assets. Gazprombank was previously the last major unsanctioned Russian bank to allow European countries to pay Russia for critical energy supplies.

### Mortality in the leadership team (2022)

On January 29, 2022, Leonid Shulman, the head of the Gazprom-invest transport service, was found dead.
On February 25, 2022, Alexander Tyulyakov, Deputy General Director of the Unified Settlement Center of Gazprom, was found dead in a noose.
On March 2, 2022, Igor Volobuev, Vice President of Gazprombank, fled Russia to move to his native Ukraine, having been born in Okhtyrka, Sumy. He has also joined the Ukrainian territorial defense in an effort to 'wash off' his Russian past.
On April 18, 2022, former Gazprombank vice-president, Vladislav Avayev, was found dead from gunshot wounds in his Moscow apartment, along with his wife and daughter, in an apparent murder-suicide. Volobuev considers the death of Vladislav Avayev an assassination.
On 12 January 2023, Russia issued an arrest warrant for the former vice president of Gazprombank, Igor Volobuev, for being a "foreign agent". In early 2022, he returned to Ukraine and joined the Ukrainian backed Freedom of Russia Legion, having since received decorations for valour in combat

## Gazprombank Suisse and Roldugin sanctions

Gazprombank Suisse, which employs around 80 people, declared in October 2022 that it was ceasing trading.
In 2023, four bankers at Gazprombank's Swiss branch have been accused of helping Sergei Roldugin, and by extension Vladimir Putin circumvent financial regulations and sanctions placed on Russia following the 2022 Russian invasion of Ukraine. Roldugin has previously been accused of being Putin's wallet, something that the Russian government has denied as anti-Russian propaganda.
According to the accusations that are currently being heard in a court in Switzerland, the bank failed to conduct due diligence checks on the owner of the accounts which were involved in moving money between accounts.

## References and notes

* 1 2 3 4 "Gazprombank releases financial results for 2020, with net income at RUB 56 bn in accordance with International Financial Reporting Standards (IFRS)". Gazprombank. 31 March 2021.
* ↑ "Gazprombank releases financial results for 2019, with net income at RUB 44.6 bn in accordance with International Financial Reporting Standards (IFRS)". Gazprombank. 24 March 2020.
* ↑ "Рейтинг банков - 2017 (таблица)". Forbes.ru. 23 March 2017. Retrieved 1 May 2017.
* 1 2 James, William (24 March 2022). "UK sanctions Alfa, Gazprombank and Lavrov's step daughter". Reuters.
* 1 2 3 4 "Как создавался и развивался "Газпром-медиа холдинг": Досье" [How Gazprom-Media Holding was created and developed: Dossier]. Kommersant (in Russian). 15 February 2012. Archived from the original on 14 February 2012. Retrieved 20 February 2021.
* ↑ Ideologist for all times Archived 2005-11-08 at the Wayback Machine, by Felix Shemedlovsky, Russian Vedomosti
* ↑ Григорьев, Андрей (Grigoriev, Andrei) (28 March 2000). Аполитичный Гусинский. Apolitical Gusinsky. (in Russian). «Компания» — деловой еженедельник (Company). Archived from the original on 12 February 2012. Retrieved 15 January 2021.
* ↑ Ideologist for all times Archived 2005-11-08 at the Wayback Machine, by Felix Shemedlovsky, Russian Vedomosti, A slightly different version
* 1 2 3 4 Grey, Stephen; Bergin, Tom; Musaieva, Sevgil; Anin, Roman (26 November 2014). Woods, Richard (ed.). "Comrade Capitalism the Kiev Connection: Sidebar Graphic Gazprombank". Reuters. Moscow/Kyiv. Retrieved 20 February 2021.
* ↑ Belton, Catherine (30 November 2011). "How Gazprom lost control of Gazprombank". Financial Times. Archived from the original on 20 February 2021. Retrieved 20 February 2021.
* ↑ Barnett, Ryan. "Gazprombank shortlisted by EuroWeek for 'Deals of the Year 2013'". CISTRAN Finance. 1/29/14. Retrieved 2/5/14.
* ↑ "ГПБ набрал капитал" (in Russian). Kommersant. 8 August 2022.
* ↑ "Газпромбанк купил торговые центры «Мега» у экс-владельца IKEA в России". РБК (in Russian). 28 September 2023.
* ↑ U.S. Department of Treasury. "Announcement of Treasury Sanctions on Entities Within the Financial Services and Energy Sectors of Russia, Against Arms or Related Materiel Entities, and those Undermining Ukraine's Sovereignty" 7/16/2014. Retrieved 7/31/2014.
* ↑ Cohen, Alexander (2 September 2014). "Russian bank hires two former U.S. senators". Center for Public Integrity. Archived from the original on 15 September 2014. Retrieved 21 September 2014.
* ↑ "FACT SHEET: Joined by Allies and Partners, the United States Imposes Devastating Costs on Russia". The White House. 24 February 2022. Retrieved 25 February 2022.
* ↑ "US banks stop dollar transfers for Russia's Gazprombank". Retrieved 26 January 2023.
* ↑ "US Treasury targets Russia's Gazprombank with new sanctions". Retrieved 21 November 2024.
* ↑ Kantchev, Georgi. "Russia's War Economy Shows New Cracks After the Ruble Plunges". Wall Street Journal. Retrieved 29 November 2024.
* ↑ "Топ-менеджера «Газпром инвеста» нашли мертвым в коттедже в Ленобласти". РБК. 30 January 2022. Retrieved 28 November 2024.
* ↑ "Нехороший поселок. Самоубийство топ-менеджера «Газпрома» Александра Тюлякова — уже вторая за короткое время неестественная смерть в высшем руководстве главной «артерии страны»". Novaya Gazeta. Retrieved 28 November 2024.
* ↑ Michael Elgort (26 April 2022). "Another Vice President of Gazprombank Igor Volobuev". LiveUAmap. Retrieved 26 April 2022.
* ↑ Sophia Ankel (27 April 2022). "Ukrainian-born Gazprombank exec says he fled Russia to fight for his country and 'wash off' his Russian past". Yahoo News. Retrieved 27 April 2022.
* ↑ Miriah Davis (20 April 2022). "Ex-Kremlin official Vladislav Avayev, 51, found dead alongside wife, daughter inside their multi-million dollar apartment". SkyNews. Retrieved 27 April 2022.
* ↑ "Вице-президент Газпромбанка Игорь Волобуев уехал в Киев". Svoboda. 27 April 2022. Retrieved 28 November 2024.
* ↑ "Russia Issues Arrest Warrant for Ex-Gazprombank VP Who Joined Ukrainian Army". The Moscow Times. 12 January 2024.
* ↑ "Russia's Gazprombank to cease operation in Switzerland". 11 October 2022.
* ↑ "Bankers in Swiss trial for helping 'Putin's wallet'". BBC. 8 March 2023.
* ↑ Rupert Neate (8 March 2023). "Four bankers in Switzerland accused of helping to hide Putin's millions". The Guardian. Retrieved 8 March 2023.