U.S. Department of Treasury has removed Ozon bank, a subsidiary of the Russian retailer Ozon, from the list of sanctions.“The following names have been added or deleted from OFAC's list of Specially Designated Nationals,” the website of the department said.To remind, in late February the US authorities included the subsidiary bank Ozon in the SDN List, linking it to the former shareholder, Sovcombank, which also fell under the sanctions of the US Treasury Department. Ozon said it would ask the Office of Foreign Assets Control (OFAC, a division of the US Treasury Department) to remove the subsidiary from the SDN List.The company reminded that on February 25it filed an appeal with OFAC. “We are awaiting the decision of the US regulator to remove Ozon bank from the list of sanctions, where it appeared due to the fact that it considers the bank affiliated with Sovcombank,” Ozon said.To note, on March 11 the Bank of Russia registered a new credit organization - Ecom bank with a registered capital of 3,6 billion rubles. This is already the second bank of the Russian retailer Ozon. 17.03.2022 | 09:25 Ozon registers its second bank, the first is under sanctions Ozon purchased a bank from Sovcombank in spring 2021 for 615 million rubles. Last summer Ozon’s Vice President for Digital Finance Vahe Ovasapyan commented on the purchase of the bank and the prospects for the development of the company’s fintech direction.“We believe in the union of fintech and e-commerce, our sellers and buyers really need convenient financial products in order to buy online or sell online,” said Vahe Ovasapyan,According to him, Ozon has a lot of customers, buyers and sellers. The strategic goal of the fintech business for these clients is to serve as many of the financial needs associated with Ozon’s business as possible. “We understand what products customers need, so now we are building infrastructure for them, the bank is a part of it.” The partner of Fintech section is Tweet Views 14426