MOSCOW, March 29 - The situation in Ukraine will not significantly affect Russian banks, Sergey Voronenko, the director of the Financial Institutions direction at S&P Global Ratings, said.

"The situation should not significantly affect Russian banks," the analyst told reporters.

He noted reserves for the major part of the loan portfolio of Russian banks' subsidiaries in Ukraine have already been created, they are 60% funded by the parent structures and slightly susceptible to fluctuations in the deposit base.