SBI not to process transactions for sanctioned Russian entities: Reports

India, which has deep trade and defense ties with Russia, has so far not publicly condemned its long-standing ally, but has called for an end to violence, for diplomacy & dialogue to resolve conflict

India's top lender will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter.

"No transactions involving entities, banks, ports or vessels appearing" on a US, European Union or United Nations sanctions list shall be processed irrespective of the currency of the transaction, said a letter sent by State Bank of India (SBI) to certain clients.

SBI did not immediately respond to emails or calls seeking comment on the matter.

"We have a significant international presence and we