Sberbank Cooperates with China on AI Projects
In February 2025, Sberbank, Russia’s largest bank, announced plans to collaborate with Chinese researchers on joint AI projects, as First Deputy CEO Alexander Vedyakhin told Reuters. This partnership emerges as China’s DeepSeek disrupts the tech landscape with its low-cost AI models challenging U.S. competitors. The collaboration follows President Putin’s January directive ordering Sberbank and the Russian government to develop AI cooperation with China amid Western sanctions restricting Moscow’s access to advanced computing hardware. Under CEO German Gref, Sberbank has transformed from a Soviet-era institution into a leading Russian AI player, releasing its GigaChat model in 2023. This initiative reflects the deepening “no limits” strategic partnership between Moscow and Beijing, with both nations aiming to challenge U.S. dominance in AI as Russia, currently ranked 31st globally in AI implementation, seeks alternative technological solutions.