By © 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
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