Russia's biggest lender Sberbank has shut down its European arm after 'abnormal' amounts of money started pouring out following the invasion of Ukraine.

The bank has lost 97% of its value on its London listing in the past fortnight and has told shareholders that significant 'cash outflows' have damaged the business outside Russia.

The bank said its subsidiaries in Europe were also facing an 'a threat to the safety of employees and branches', according to Russian news agencies.

It came as the world's largest cryptocurrency exchanges, including Binance and Kraken, said they will not 'unilaterally' freeze the accounts of all Russian users despite pleas from the Ukraine government.

https://www.dailymail.co.uk/news/article-10568119/amp/Russias-biggest-lender-Sberbank-QUITS-European-market-losing-BILLIONS.html

Mynd44 Lalasticlala Seun

Lolzzz... Russia invading Ukraine is all shades of wrong. They can wake up tomoro and target Georgia, Poland or Latvia.

don't blame the Ukrainian president, he's a comedian by profession

MERCHANDISER:
don't blame the Ukrainian president, he's a comedian by profession

What has your comment got to do with the OP?

Ment

Igbofam2:


What has your comment got to do with the OP?

That's how wannabe Russian bots behave... No sense whatsoever, so don't be surprised.

By the time Putin realise himself Russia economy will be like that of a third world country

KingEverest:
By the time Putin realise himself Russia economy will be like that of a third world country

It's already there. The reality will shock the Russian citizenry very very soon.

2 days ago the Ruble exchanged at 4.2 with the Naira but today it's at 3.6 and still falling fast

Igbofam2:


It's already there. The reality will shock the Russian citizenry very very soon.

2 days ago the Ruble exchanged at 4.2 with the Naira but today it's at 3.6 and still falling fast

it will be nice to rub shoulders with an European country for once

KingEverest:
it will be nice to rub shoulders with an European country for once

I swear

The long-term effect of this will be very disastrous for Russia

Even if he is given Ukraine and 3 more NATO countries

He just killed Investor Confidence

The worst mistake in business

Putin is fighting a just cause. It’s just unfortunate that the west controls the media and lots of folks are victims of western propaganda.

MyVILLAGEpeople:
Putin is fighting a just cause. It’s just unfortunate that the west controls the media and lots of folks are victims of western propaganda.

Taaaaaaaaaaaa.

Ellexy:
That's how wannabe Russian bots behave... No sense whatsoever, so don't be surprised.

Lolz