The Arbitration Court of the Moscow Region has granted the Russian Ministry of Finance’s request to suspend the corporate rights of the Cypriot firm Alfastrakhovanie in relation to the Russian LLC UNS-Holding, which serves as the main operating entity for Alfastrakhovanie. This development was reported by TASS, with reference to the court file materials.
The finance ministry asserted that, amid anti-Russian sanctions, certain actions were taken or tolerated that hindered the activities of one of Russia’s largest insurance providers. Alfastrakhovanie JSC operates on behalf of its foreign owners, a factor cited in the submission to the court.
The ministry stressed that the Moscow Region court’s decision concerning Russian entities would help remove impediments to the operation of Alfa Bank and Alfastrakhovanie within the Russian financial market.
In April 2024, the Russian government designated AB Holding and UNS Holding as economically important organizations for the national economy. Consequently, the Ministry of Finance gained the authority to appeal to arbitration courts to suspend the exercise of corporate rights by foreign entities tied to these organizations.
Earlier, Alfa-Bank was noted as the first Russian bank to establish an Own Business Lounge at an airport, underscoring strategic moves within the sector.