Russian central bank slams ruling in $1bn Sberbank swaps case

Lawyers say shock court judgement in ruble options dispute “puts hundreds of contracts at risk”

Options contracts resulted in huge losses for state-owned Transneft after the ruble plunged against the dollar in 2014

The Central Bank of Russia fears the local derivatives market could be seriously damaged by a shock court judgement ordering Sberbank to pay 67 billion rubles ($1.12 billion) compensation to state-owned transport company Transneft for losses incurred on trades during the 2014 ruble devaluation.

“The emerging judicial practice creates unacceptable legal risks for over-the-counter transactions concluded between Russian banks and Russian non-financial organisations,” a spokesperson for the central

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here