https://www.rt.com/business/548754-european-banks-russia-ukraine-crisis/
European banks are concerned that the payment system which connects them to Russia could become a casualty of the Ukraine crisis, Reuters reported on Wednesday, citing its sources. The banks describe the potential disconnection of Russia from SWIFT as an “atomic bomb” for the industry because it would prevent the repayment of debts, it said.
According to research by JPMorgan, European banks with subsidiaries in Russia are most at risk from economic restrictions. The study said a handful of lenders, including UniCredit, RBI, France’s Societe Generale, and ING of the Netherlands, have notable exposure to the country.
Data from the Bank for International Settlements (BIS) shows Italian and French banks each had outstanding claims of some $25 billion on Russia in the third quarter of 2021. Austrian banks had $17.5 billion, while US banks were owed some $14.7 billion.
The Tribulation is commencing…
Please repent, carry your cross daily and accept the free gift of Jesus Christ’s Death on the Cross for payment for your sins.
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