Several European subsidiaries of Sberbank Russia, majority owned by the Russian government, are failing or likely to fail due to reputational cost of the war in Ukraine, the European Central Bank, the lenders' supervisor, said on Monday.
www.reuters.com
VTB Capital last week lowered a large Russian flag at its palatial building opposite the Bank of England in London's financial district, signalling a retreat from one of the main global centres for money flows.
www.reuters.com
"Russian business has grown tentacles deep in Britain's financial system in the thirty years since the Soviet Union's collapse, prompting the British parliament's security and intelligence committee to warn in 2020 that its influence was so deeply embedded that by now it "cannot be untangled"."
makes you wonder about the knock on effects on londongrad, finance, even housing.