Latest News

Five eastern EU states to quit Soviet-era banks

© Reuters. FILE PHOTO: Russian rouble coins are seen in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/Illustration

PRAGUE (Reuters) – The Czech Republic, Bulgaria, Poland, Romania and Slovakia will take steps to end their involvement in the International Investment Bank (IIB) and the International Bank for Economic Co-operation (IBEC), they said in a joint statement on Wednesday.

They also said they would seek to prevent the Soviet-era institutions, which count Russia as their largest shareholder, from circumventing the effect of European Union sanctions.

“In line with our domestic procedures we will accordingly and as soon as it is possible take steps to discontinue our participation and initiate the settlement under the Banks’ statutes with a view to achieving an orderly withdrawal,” said the joint statement of the countries’ finance ministries, which was released by the Czech ministry.

Five eastern EU states to quit Soviet-era banks

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News