STORY: In Russia, people are lining up to make cash withdrawals.
They’re worried about getting money from banks while they still can.
In the EU, arms of Russia’s biggest lender face a run on cash of their own.
Sberbank Europe faces collapse as a result.
That’s according to the European Central Bank.
It says the firm faces “significant deposit outflows” over geopolitical tensions.
Russia faces sweeping sanctions over its actions in Ukraine, with its economy and financial system all-but sealed off.
The ECB’s warning also extends to Sberbank subsidiaries in Croatia and Slovenia.
Account holders in both countries now face a limit on withdrawals.
Separately, Deutsche Börse said it was suspending trading in some securities from Russian issuers.
That list includes Sberbank.
London-traded depositary receipts in the Russian lender were down 70% on Monday (February 28).
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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