Deutsche Bank to undermine Russian business – SABC News

Deutsche Bank (DBKGn.DE) said on Friday that it would disrupt its business in Russia.

Deutsche has faced strong criticism from some investors and politicians on Friday for its continued ties with Russia after it said the move would go against its values, as did other banks in the -connect.

“As some of our international peers and in line with our legal work and policy, we are committed to ending our business in Russia as we assist our non-Russian clients in reducing their productivity. , “the bank said on Friday.

“There will be no new trade in Russia.”

Meanwhile, President Joe Biden has announced that the United States will suspend trade relations with Russia, in a new move scheduled for the G7 and EU countries. today Moscow suffered for its military attacks in Ukraine.

The move will allow tariffs on Russian exports including foodstuffs, vodka and diamonds – and the latest devastation to hit Russia’s struggling economy.

“Each of our countries will take action to reject Russia’s favorite national status. A national favorite means that the two countries have agreed to trade among themselves under the best possible terms of access to low tariffs, barriers. a few of the trade, as well as the largest imports allowed in the US.We call permanent trade relations PNTR.Or the same.The return of PNTR to Russia will make it difficult for Russia to join the US “To do so with other countries that make up half of the world economy would be another blow to Russia’s economy – it suffers greatly from our constraints.”

Deutsche Bank to undermine Russian business – SABC News

Source link Deutsche Bank to undermine Russian business – SABC News

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