ECB says Sber Bank Europe is failing or likely to fail

  • European Central Bank says Sber Bank Europe AG and its subsidiaries in Croatio and Slovenia are failing or likely to fail

Sberbank is a state-owned Russian banking and financial services company. Its one of the banks cut off from SWIFT over the weekend.

Info via Reuters headlines.

The ECB assesses that the bank is likely to be unable to pay its debts or other liabilities as they fall due.

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