UniCredit said on Monday it was challenging the terms set by the European Central Bank (ECB) for the Italian bank to cut its exposure to Russia, and seeking a ruling from the European Union's General Court, as well as a freezing of the request in the meantime....
One of the biggest banks in Latvia, ABLV, had their banking license pulled overnight and was forced into liquidation for a mere SUSPICION of enabling money laundering operations for/through russia. Later it was found that it was not guilty. That was before the war. It bewilders me the there are still at least two banks that continue operations in russia and ECB has not persecuted them to the same extent as a Latvian one.
It matters not if the bank is stable or not. It matters that mere allegation caused ECB to switch off their operations. On the other side, we have at least two other banks who are openly continuing to work in russia against sanctions and they don't get the same treatment.
Italy's banking giant UniCredit challenges terms set by European regulator to cut its exposure to Russia, seeks ruling from the EU's General Court ( www.reuters.com ) Englisch
UniCredit said on Monday it was challenging the terms set by the European Central Bank (ECB) for the Italian bank to cut its exposure to Russia, and seeking a ruling from the European Union's General Court, as well as a freezing of the request in the meantime....