ECB puts RBI and Russian banking subsidiaries under surveillance

The European Central Bank (ECB) has placed banks with close ties to Russia under close scrutiny. Among them is also the Raiffeisen Bank International (RBI) as well as the European branch of the Russian VTB. That reported Reuters early Monday evening, citing two insiders. “Our Russian subsidiary bank has a very strong liquidity base and is seeing inflows,” said RBI boss Johann Strobl in a statement.

Sanction consequences

The West has imposed sweeping financial sanctions on Moscow. The RBI and Co now have to report their liquidity to the supervisory authorities more frequently. In addition, the affected banks must inform the supervisory authority about the effects of the sanctions on their assets in Russia and Ukraine, the agency report, which was initially only published in English, continued. Accordingly, the supervisory authorities have been in constant contact with the banks since the Russian invasion of Ukraine.

By Editor

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