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ECB warns of liquidity deterioration as sanctions hit Sberbank’s European subsidiary
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A European subsidiary of Sberbank, Russia's largest bank and a target of US sanctions, has been deemed failing or likely to failed by the European Central Bank.
The ECB said on 28 February that Sberbank Europe and its subsidiaries in Croatia and Slovenia saw a deterioration of their liquidity situation as customers withdrew deposits. It highlights the impact sanctions on Russia are having on banks.
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