The European Central Bank enhances pressure on the banks of the euro zone, demanding that they stop business in Russia, writes Financial Times.
Despite the fact that the “window” is narrowing for leaving the Russian market, and any transactions for the sale of banking business are prohibited without the approval of the Kremlin, the ECB welcomes “any steps” of banks for leaving the Russian Federation, said Andrea Enria, director of the regulator’s supervision.
“Of course, we put pressure on the banks so that they actively control their risks associated with Russia,” he emphasized, adding that “any opportunity” will leave the Russian Federation “attractive” from a regulatory point of view.
Of the 45 Western banks working in Russia before the start of the war, only a few were able to leave the market, and with big losses, Moscow Times notes. The French group of Societe Generale managed to sell the business, in particular. Her Rosbank went to billionaire Vladimir Potanin, who was on the sanctions lists of Great Britain, after which the bank itself was cut off from operations in the pounds and clearing system Clearstream.
Russian President Vladimir Putin on August 5 signed a decree that de facto forbidden foreign banks leave Russia. According to the document, in order to get rid of the share, non -residents will need to receive special permission from the president, and without it the transactions will be considered “insignificant.” The new owners who have bought a bank without a “Kremlin’s visa” will be deprived of the rights provided for by the law ”of the Russian Federation.