The oldest bank in the United States – Bank of New York Mellon – announced the suspension of investment and other activities in cooperation with Russia. The corresponding announcement appeared on website bank on Thursday, March 17th.
“BNY Mellon has ceased new banking operations in Russia and has also suspended investments in Russian securities,” the press release reads.
The bank’s management emphasized that this decision, coupled with numerous sanctions against the Russian Federation, will lead to a reduction in the organization’s income by $100 million in the first quarter of 2022.
In addition, BNY Mellon ordered a donation of $1 million for humanitarian assistance to citizens of Ukraine.
Earlier in the day, the French group Societe Generale (operating in Russia under the Rosbank brand) reported that they were considering deprivation of ownership of their assets in the Russian Federation in a stress scenario. The group noted that such actions will not affect the payment of dividends for 2021.
On March 15, the Italian banking group UniCcredit stated that it was evaluating the prospects for further work in Russia and would announce its decision later. The organization has been operating in Russia since 1989.
International banks are thinking about leaving Russia against the backdrop of tightening Western sanctions policy.
On February 17, the situation in Donbass seriously deteriorated. The Donetsk and Luhansk People’s Republics reported heavy shelling by Ukrainian security forces, including with heavy weapons. The republics announced a general mobilization and evacuation of civilians to the territory of Russia.
On February 21, Russian President Vladimir Putin signed decrees recognizing the independence of the LPR and DPR. Also, the Russian leader and the heads of both republics Leonid Pasechnik and Denis Pushilin signed agreements on friendship, cooperation and mutual assistance.
On February 24, Russia launched a special operation to protect the civilian population of Donbass. After that, Ukrainian President Volodymyr Zelensky accused Russia of hitting the country’s military infrastructure and introduced martial law. He also severed diplomatic relations with the Russian Federation. Western countries have introduced new packages of anti-Russian sanctions.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel
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