Yet more EU companies leaving Russia

RUSSIA / FSU POLITICS - In Brief 13 Apr 2022 by Alex Teddy
On April 15 Russian ships will no longer be allowed to dock in EU ports. This will also apply to ships that have until recently been flagged as Russian. There may be some exceptions for ships carrying food and medicine.Russian-registered vehicles are also banned from EU roads. Societe General is stopping its banking and insurance business in Russia, it announced on April 11. This will cost the bank USD 3.3 billion. Societe Generale was one of the biggest shareholders in Rosbank. It is selling its stake in the bank and its other Russian assets to Interros Capital. Interros was set up and chaired by Vladimir Potanin. Potanin is also the head of Nornickel. He is the second richest man in the country. Potanin has been sanctioned by Canada. UniCredit Bank and Raifeissen are Italian and Austrian respectively. They are both still operating Russia. Ukraine has demanded that the EU go further and stop these banks from operating in Russia and ban all trade with Russia.

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