Earlier on Thursday, Russian forces fired missiles at several cities in Ukraine and landed troops on its coast, officials and media said, after President Vladimir Putin authorised what he called a special military operation in the east. read more
European banks are the world’s most exposed to Russia – especially those in France, Italy and Spain, which far outstrip U.S. banks’ exposure, data from the Bank for International Settlements shows.
European Union leaders will impose new sanctions on Russia, freezing its assets, halting access of its banks to the European financial market and targeting “Kremlin interests” over its “barbaric attack” on Ukraine, senior officials said on Thursday.
Both Deutsche Bank and Allianz – two of Europe’s most important financial firms and both with operations in Russia – said they were ready to comply with sanctions.
Allianz, one of the world’s biggest asset managers, said that the share of Russian government bonds in its portfolio was “currently very low” and that it had recently implemented a freeze on those securities.
Deutsche Bank, like many lenders in recent years, has reduced its presence in Russia as sanctions on the country have expanded.
