European Central Bank set to order UniCredit to reduce Russia business
The European Central Bank (ECB) is poised to order Italy’s UniCredit to cut back its business with Russia, two people with knowledge of the discussions said, as the regulator exerts pressure to choke off European financial ties with Moscow, according to Reuters.
The demands on the second-biggest European bank in Russia would be similar to what the ECB wants from Austria’s Raiffeisen Bank International (RBI) the largest Western bank active in the country, the people told Reuters, requesting anonymity because the matter is confidential.
After months of discussions, the ECB is set to send UniCredit a legally-binding order, the sources said, in a significant increase in pressure to pare back its Russia business. This is the penultimate step before the ECB can impose penalties, such as fines.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
