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European Central Bank says European subsidiaries of Russian Sberbank ‘likely to fail’ due to deteriorating liquidity

By Elizabeth Hearst for AMLi

The European Central Bank has said three European subsidiaries of Russia’s largest bank, Sberbank, are “failing” or “likely to fail” as a result of a “deterioration of their liquidity situation”. 

In a press release, the ECB said that Sberbank Europe AG, based in Austria, and subsidiaries in Croatia and Slovenia are failing or likely to fail, as a result of the “reputational impact of geopolitical tensions”.

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