In the spring of 2022, after the outbreak of hostilities in Ukraine, German financial authorities established control over VTB Europe Bank, based in Frankfurt am Main, and prohibited VTB from exercising shareholder rights. In March 2023, the liquidation procedure began, but the Frankfurt bank tried to withdraw its securities from the securities account opened with the VTB depository, including abroad, for a total amount of more than 60 million euros.
The US Treasury removed the former European subsidiary of VTB from sanctions – Russia today
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