Sberbank sues EU over its decision its branches in Croatia, Slovenia, Austria

NEWS 21.11.202221:39 0 komentara
Jure Makovec / AFP

Russia's Sberbank has lodged lawsuits challenging decisions by the European Commission and Single Resolution Board (SRB) to impose restrictions over some of its European operations, Croatian state news agency Hina reported on Monday, citing Reuters.

“Sberbank Europe AG, based in Vienna, was closed in March by order of the European Central Bank (ECB), which cited the risk of imminent failure resulting from the bank’s economic difficulties and the potential for a run on deposits after Russia sent tens of thousands of troops into Ukraine,” Reuters was quoted as reporting.

The SRB, which was set up to limit the cost to taxpayers from failing banks, on March 1 adopted resolution schemes with respect to Sberbank Europe’s subsidiaries in Croatia and Slovenia, ruling that shares be transferred to a buyer, citing risks to the financial stability of the two countries.

Sberbank did not immediately respond to Reuters’ request for comment on the lawsuits, which were brought on Aug. 22, filings published by the European Union showed on Monday.

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