Behind the Scenes: Suupohjan Osuuspankki’s Last-Minute Cash Withdrawal for Boris Rotenberg

According to the Sourses , it is alleged that IS: Suupohjan Osuuspankki allowed Boris Rotenberg to withdraw his cash at the last minute before EU sanctions. However, it is not clear whether this allegation is true or not. The article from Le Monde explains that Boris and his older brother Arkady did not intend to stand idly by in the face of the restrictive sanctions adopted against them by the United States following Russia’s annexation of Crimea. To neutralize the economic effects of the sanctions, the two brothers relied on the skills of Maxim Viktorov, a Russian businessman and lawyer whose role was paramount in managing their assets after the first sanctions. It is not clear whether Suupohjan Osuuspankki was involved in this process.

In 2020, Boris Rotenberg lost a discrimination lawsuit against Nordic banks, including Nordea, Danske Bank, and OP Financial Group, which had closed his accounts due to sanctions. The article from Riddle Russia.explains that the Rotenberg case tells us that sanctions are not always effective, as the sanctioned individuals can find ways to circumvent them. The investigation by Radio Free Europe shows how the billionaire brothers Boris and Arkady Rotenberg move companies around the world “like chess pieces, new bank accounts opening just as others were closed, and ownership structures morphing in response to new sanctions or questions from regulators.”