Gazprombank is one of Russia‘s biggest banks, and is also under U.S. sanctions. According to Le Monde, sources, Gazprombank is poised to buy the Russian operations of Auchan. Auchan CEO Yves Claude stated that 30,000 people including 40% of employees, shareholders and other stakeholders could lose their job if the company left the market. In March 2022 Auchan CEO Yves Claude said that the company will not leave Russia despite allegations of financing the war. French media reported that Auchan is in final negotiations to sell their Russian subsidiary to a domestic buyer. The sale should be finalized in the next few weeks. The potential buyer wasn’t named in previous reporting. However, Auchan was said to be eager to sell because Russia’s “exit taxes” have increased from 10% to 15 percent, with a potential of reaching 35%. Gazprombank is under U.S. sanction since 2014. Additional sanctions were announced by the U.S., U.K. and Canada in 2022 after the outbreak of the full-scale conflict. In January 2023 the Russian state-controlled press announced that U.S. bank transfers to Gazprombank had been stopped.
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