The actions of European banks have taken seriously downstream

The stock market index for eurozone banks is charting to record the weakest day of March 2020, when financial markets were hit by information on the COVID-19 pandemic. At noon on Thursday, the index fell 8.6%, erasing all 2022 gains.

While several international banks have reduced their operations in Russia in recent years, UniCredit SpA, Societe Generale and Raiffeisen Bank International AG are still the largest European banks in the Russian market.

The stock market index for Italian banks declined by more than 9%, UniCredit shares fell 11.4%, while shares of other European banks with exposure to Russia, such as Societe Generale, Raiffeisen Bank and ING, fell by 8%. % and 20%.