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The first bankruptcy of a Russian bank. Huge withdrawals of



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The first bankruptcy of a Russian bank is expected, following the launch by Vladimir Putin of the attack on Ukraine. The European Central Bank (ECB) noted on Monday the “bankruptcy or probable bankruptcy” of the European subsidiary of the Russian bank Sberbank, one of the largest in Russia, as a result of “significant” withdrawals of deposits due to the conflict in Ukraine and sanctions imposed by countries informs France 24, quoting AFP.

Sberbank Europe AG, headquartered in Austria, and its subsidiaries in Croatia and Slovenia have “experienced significant withdrawals from deposits due to the impact of geopolitical tensions on their reputation,” the ECB’s banking supervisor said in a press release. in the near future, the bank may not be able to pay its debts or other maturity commitments “, quotes Agerpres.

European Foreign Minister Josep Borrell announced on Sunday that European foreign ministers had agreed, in agreement with G7 member states, to block Russia’s Central Bank transactions, AFP reports.

“More than half of the Central Bank’s reserves will be paralyzed because they are held in G7 institutions,” Borrell said, noting that the ministers’ political agreement paved the way for the official adoption of the measure until financial markets open on Monday.

The blasts were heard on Monday morning in the Ukrainian capital Kyiv and in Kharkov, the second largest city in Ukraine, the state service for special communications and information protection announced, Reuters reports.

Kyiv was quiet for several hours ahead of the blasts, the Ukrainian source was quoted as saying in a brief statement on the Telegram.

The White House has announced that President Joe Biden will hold a conference call with US allies and partners on Monday to discuss developments in the Russian attack on Ukraine and to coordinate a united response, AFP reports.