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Russia's Sberbank Protests Western Sanctions at European Top Court

The headquarters of Sberbank in Moscow.

Russia's top bank Sberbank said Friday it had launched a legal challenge in a European Union court over Western sanctions imposed on the bank over the Ukraine crisis.

The EU imposed sanctions on Sberbank over the summer, restricting its access to international capital, in a move linked to Russia's role in the separatist conflict in Ukraine.

The state-controlled bank is an important lender to Russia's $2 trillion economy but is grappling with a weakening economic outlook exacerbated by the sanctions.

Sberbank said in a statement that it had filed its legal challenge on Thursday at the European General Court. It said it would not elaborate on the terms of the challenge, in accordance with usual practice for such cases.

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