Ukraine Invasion
Finance
Ukraine Invasion – Failure Of European Subsidiary of Russian Sberbank Imminent!
As a result of the Ukraine invasion of Ukraine, the EU imposed sanctions on Russian banks, which put them under pressure. The European headquarters of the state-owned Russian Sberbank is located in Vienna, Austria. The European Central Bank ECB warned that Sberbank Europe is likely to fail because of economic difficulties. Therefore, as the national resolution authority, the Austrian Financial Market Authority (FMA) has imposed a moratorium on Sberbank Europe with immediate effect.
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