Since Russia invaded Ukraine in early 2022, kyiv’s allies, led by the United States and the European Union, have imposed numerous sanctions on Russia. Despite this pressure, more than half of foreign companies have chosen to remain in Russia, according to the Kiev University of Economics. European banks are no exception, but pressure is growing for them to reduce their presence, notably from the European Central Bank (ECB), which fears “the geopolitical risks” involved.
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ECB urges European banks still active in Russia to withdraw
