On 3 August 2023, ABH Holdings S.A. addressed Mr. David O’Sullivan, EU Sanctions Envoy with the Directorate‑General for Financial Stability, Financial Services and Capital Markets Union of the European Commission, as well as other high officers of the EU.

ABHH told Mr. O’Sullivan that ABHH and its shareholders fully support the actions of its Cypriot subsidiary, ABH Financial Limited, to divest the ownership interest in Alfa-Bank Russia provided the sale is on market terms. ABHH also informed Mr. O’Sullivan that the legal instruments involving the sale of Alfa-Bank Russia to one of its current shareholders - Mr. Andrey Kosogov were signed on 16 February 2023, and noted that the completion of this transaction was subject to the approval of the Ministry of Finance of the Republic of Cyprus.

ABHH expressed concerns over the delay of more than five months by the Republic of Cyprus authorities in resolving the matter, and respectfully asked Mr. O’Sullivan to assist in expediting the review process, so that a diligent resolution could be achieved.

We emphasise that the divestment is in compliance with various national and European laws, rules and regulations. A failure to allow the transaction to proceed will cause material injury to diverse individuals and companies.