War Finances

It serves as the main bank for the russian federation’s defense-industrial complex. The bank provides banking services for the state defense procurement program (GOZ), has specialized infrastructure for managing separate accounts and processing payments under GOZ contracts, and directly finances russian defense industry enterprises and strategic industrial projects. The bank’s clients include manufacturers of nearly the entire spectrum of weapons used by russia in the war against Ukraine, including ballistic, cruise, and air-launched missiles; strike UAVs; guided aerial bombs; frontline and army aviation, multiple launch rocket systems (MLRS), armored vehicles, and more.
In addition, the bank is involved in creating an alternative financial infrastructure that russia uses to circumvent international sanctions against its financial sector. The bank is linked to the A7 payment network and the ruble-denominated stablecoin A7A5, which is used for cross-border settlements by russian entities. As of August 2026, the total turnover of A7A5 since its launch had approached $140 billion, and the A7 platform processed up to 2,000 cross-border payments per day, primarily with Asian countries.
PSB Bank PJSC operates the "SVOi" payroll program -for combat veterans - and the "Strong People" program - for military personnel and law enforcement officers.

The bank is involved in financing industry and infrastructure projects in the defense sector; in particular, it is a financial partner of the Alabuga Special Economic Zone, within which serial production of various modifications of the "Geran" attack UAVs has been established. The total value of contracts in this zone supported by "VTB Bank" exceeds 190 billion rubles, and more than 250 special accounts have been opened for subcontractors to monitor the intended use of the funds they receive. In addition, VTB has opened a 56-billion-ruble credit line for "Alabuga" to finance the construction of a logistics complex and a terminal. The bank’s branch in Shanghai (PRC) was used to process payments in order to circumvent sanctions restrictions on the supply of electronic components and equipment for the production of the "Geran" UAV.
"VTB Bank" has a strategic cooperation agreement with the state-owned corporation "Rostec", under which VTB handles international payments for "Rostec" enterprises; finances the corporation’s projects; and provides trade finance services to support exports and imports.
In August 2024, during the "Army-2024" international forum, VTB Deputy Chairman Valery Lukyanenko and CEO of the "VKO Almaz-Antey" Concern Yan Novikov signed an agreement on long-term cooperation in the field of fulfilling state defense contracts and the diversification program.
"VTB Bank" maintains/maintained accounts for russian enterprises involved in the production of weapons and military equipment used by the russian federation in the war against Ukraine, including the "Kazan State Gunpowder Plant", which specializes in the production of gunpowder and the assembly of charges for artillery rounds.

The bank has the status of an authorized organization in the field of housing construction, is the official partner bank of the authorized state agency FGKU "Rosvoenipoteka", and is directly involved in implementing the state housing provision system for servicemen of the russian federation armed forces; provides loans to participants in the military personnel’s savings-and-mortgage system, and implements the special "Family Mortgage for Military Personnel" program as well as preferential military mortgages for the purchase of housing in new developments.
In addition, the bank directly serves participants in russia’s aggression against Ukraine - it provides special payment deferrals to military personnel and their family members, and serves military personnel mobilized into the russian armed forces and engaged in combat operations on the territory of Ukraine. Thus, the bank is part of the state financial infrastructure that provides social and housing guarantees to russian military personnel, particularly those directly involved in the war against Ukraine.
"Bank Dom.RF" maintains or has maintained accounts for russian defense industry enterprises, including "NPP Samaravzryvtekhnologiya" LLC, which specializes in the disposal of weapons, military equipment, and ammunition.

It is the largest financial institution in the russian federation and serves as a key financial contributor to the russian state.
It plays one of the key roles in providing financial support to enterprises in the defense-industrial complex and fulfilling state defense contracts. Historically, the bank has been one of the largest operators servicing defense contracts. Starting in 2018, a significant portion of defense loans and special accounts was centrally transferred to Promsvyazbank (PSB) in order to reduce sanctions risk for the bank’s civilian operations. However, the bank has retained its classified infrastructure, licenses, and permits to conduct activities related to state secrets, and continues to service specialized contracts within the scope of classified lists. "Sberbank of russia" services or has serviced accounts of russian enterprises involved in the production of ballistic and cruise missiles, fighter jets, guided aerial bombs, and other weapons used by the russian federation in the war against Ukraine, including "CONCERN VKO ‘ALMAZ-ANTEY’" JSC, "NPK ‘KBM’" JSC, "VMP ‘AVITEK’" JSC, and others.
Through the "Domklik" service, the bank implements a special state mortgage program for employees of defense industry enterprises.
The bank holds a license as an information system operator for the issuance of digital financial assets, which allows it to create additional channels for internal settlements outside of traditional international payment channels and the associated sanctions control mechanisms.

The bank has historically served strategic sectors of the russian economy, including the energy, transportation, and defense industries. A controlling stake in the bank and its management are concentrated in the hands of representatives of the russian leadership’s inner circle, including Yuri Kovalchuk and other members of the "Ozero" cooperative; accordingly, the bank serves as a financial instrument for the kremlin elite. The bank is involved in closed state payment programs and finances the fulfillment of contracts for the defense-industrial complex and large-scale state infrastructure projects, while also actively expanding its branch network in the temporarily occupied territories of Ukraine, particularly in the Autonomous Republic of Crimea and the city of Sevastopol. It is one of the main settlement centers for the occupation administration, facilitating payments for illegally appropriated port and transportation infrastructure facilities and replenishing local budgets.
Until 2025, it was included in the list of banks authorized to provide banking services for the state defense procurement program.
The bank has contractual relationships with enterprises of the state corporation "Rostec," specifically "ODK-Klimov" JSC and "Radioelectronic Technologies Concern" (KRET) JSC.

It is part of "Gazprom"’s assets and is one of the three largest banks in the russian federation with systemic importance for serving the energy, machine-building, and industrial sectors.
It was included in the list of banks authorized to provide banking services for the state defense procurement program and handled payments under contracts in the defense-industrial complex; in particular, it serviced/continues to service the accounts of:
- "Atomenergomontazh" JSC, in particular for the purpose of making payments under state contracts with the ministry of defense of the russian federation;
- "AviaKor-Aviation Plant" JSC, including for the purpose of providing financial support for a defense contract.
The bank provided financing to russia’s largest manufacturer of armored vehicles "Uralvagonzavod" JSC.
Payments of salaries, combat bonuses, and compensation to servicemen of the russian armed forces participating in the war against Ukraine, as well as the procurement of UAVs, components for military equipment, and radio-electronic reconnaissance equipment, are made via accounts held with Gazprombank.
In September 2025, the Central Bank of the russian federation included the bank in the register of information system operators authorized to issue digital financial assets.
The bank uses a network of subsidiaries in various foreign jurisdictions to conduct transactions in circumvention of sanctions controls.

It serves as the main bank for the russian state corporation "Rostec" and functions as the key clearing house for enterprises in the russian federation’s defense-industrial complex. The institution provides financial support and lending to russia’s largest manufacturers of weapons, aircraft, and military equipment. Until 2025, it was included in the list of banks authorized to provide banking services for the state defense procurement program.
"Novikombank" maintains/maintained accounts for russian enterprises involved in the production of weapons and military equipment used by the russian federation in the war against Ukraine, including:
"MMZ ‘AVANGARD’" JSC - a manufacturer of RM-48U cruise missiles for the S-400 system;
"NPO ‘POISK’" NAMED AFTER V.I. RDULTOVSKY JSC - a supplier of contact target sensors and safety-and-actuation mechanisms for ballistic and cruise missiles.
The bank is directly involved in the capitalization of Rostec’s strategic defense holding companies, including the "United Engine Corporation", "Russian Helicopters", the "Radio-Electronic Technologies" Concern, and "NPO High-Precision Systems". It provides a full range of settlement services for these enterprises and offers preferential loans to employees of military factories through a special social program called "Razvitiye".
The bank uses internal, closed payment channels and the Central Bank of the russian federation’s Financial Message Transfer System to circumvent sanctions restrictions.

The bank serves as the primary clearing and credit center for the state-owned oil corporation "NK Rosneft" PJSC. The bank ensures the financial stability of the oil and gas corporation’s corporate structure, which is a key source of tax revenues and dividends for the aggressor country’s federal budget. In doing so, the financial institution directly supports the revenue side of the russian budget, which is used to sustain long-term military and administrative expenditures amid intense external pressure.
Following the start of the full-scale invasion, the bank activities were integrated into the financing processes of the russian military-industrial complex. The institution provides contract management and lending to machine-building and shipbuilding enterprises of strategic importance. The bank acted as the contracting authority for the procurement of reconstruction and technical modernization of the production facilities of "DVZ "Zvezda" JSC, intended to support the repair of third- and fourth-generation diesel and nuclear submarines. The project was implemented as part of the russian federation’s state program for the development of the defense industry.
To circumvent the sanctions restrictions in place, the bank conducts transactions through closed internal payment circuits and banks in neutral and friendly countries.

It is one of the largest state-owned financial institutions in the russian federation and a specialized bank whose activities are primarily focused on serving the russian federation’s agro-industrial complex.
"Rosselkhozbank" maintains/maintained accounts for russian companies involved in the production of weapons and military equipment used by the russian federation in the war against Ukraine, in particular, "PEMZ 'MOLOT'" JSC, which supplies components for ballistic and cruise missiles, as well as guided aerial bombs.
The bank is used in the russian federation’s foreign trade settlements with other countries to circumvent applicable sanctions, in particular through the cross-border payment system with China. The bank is considering connecting to the Chinese interbank payment system CIPS as an indirect participant, as an alternative to SWIFT. Within the russian federation, the bank has launched an alternative platform, RusAgConnect, which allows it to circumvent SWIFT restrictions. The system supports multi-currency settlements, domestic clearing, and integration with the Chinese CIPS via intermediary banks.
"Rosselkhozbank" issues and services payment cards under the "Mir" payment system to ensure the disbursement of monetary allowances and to facilitate payments for the purchase of food supplies for military personnel and employees of the russian federation’s security forces.

The largest private bank in the russian federation, it is included in the list of systemically important credit institutions. With an extensive infrastructure and serving millions of private and corporate clients, the institution is one of the largest taxpayers in the russian financial sector, thereby contributing to the revenue side of the budget, which is used to finance military expenditures.
Following the start of the full-scale invasion, the bank adapted its operations to the conditions of the russian federation’s war economy and helped maintain the stability of the russian financial market. Despite statements by the bank’s management that it was scaling back its work with the defense sector due to sanctions risks, the bank continues to provide services to enterprises in the defense-industrial complex, including the "Samara Kommunar Plant" FSE, which specializes in the production of gunpowder, explosives, and ammunition, as well as suppliers of UAV components to enterprises of the state corporation "Rostec".
In February 2023, the Central Bank of the russian federation included "Alfa-Bank" in the register of information system operators authorized to issue digital financial assets. Its "A-Token" technology platform is used to create alternative capital-raising instruments that bypass traditional international monitoring mechanisms.
The bank uses internal, closed payment channels and the Central Bank of the russian federation’s Financial Messaging System to circumvent sanctions restrictions, and is involved in facilitating foreign trade transactions for the supply of dual-use goods to russia via payment instruments in friendly jurisdictions.

The bank is directly involved in providing financial support to russian industry, the machine-building sector, and shipbuilding; it actively extends credit and provides comprehensive financial support for contracts involving local industrial enterprises, machine-building holding companies, and strategic enterprises. The bank’s clients - "Northern Shipyard," "Baltic Plant," and "Admiralty Shipyards" - carry out state defense contracts for the construction, repair, and modernization of military ships for the russian navy.
Until 2025, it was included in the list of banks authorized to provide banking services for the state defense order.
Bank St. Petersburg is listed in the current catalog of programs of the FGKU "Rosvoenipoteka" as a lender under the "Military Mortgage" program, which provides preferential loans to russian military personnel.

A regional commercial financial institution in the Chelyabinsk Oblast of the russian federation, where a large cluster of enterprises in the russian military-industrial complex is located. The bank provides settlement services and loans to local small and medium-sized business subcontractors who participate in lower levels of the supply chain and supply products to defense industry enterprises, including:
Chelyabinsk Clock-Watch Plant Molniya PJSC, which manufactures aviation timepieces for military aircraft;
PLANAR LLC, which supplies electronic components for the transmission systems of Su-57 multi-role fighters;
NPK TEKO JSC, which supplies components for the "Orion" unmanned aerial systems.