FRANKFURT (Reuters) – The European Central Bank has kept up pressure on banks to loosen ties with Russia but it knows that it is not easy to secure approval from local authorities, ECB supervisor Andrea Enria said in an interview published on Monday.
“We continue putting pressure on banks to downsize and potentially exit,” Enria told the Financial Times. “We acknowledge that there are legal constraints and that, in order to exit the business, you need to find suitable buyers and you need to get an approval from the local authorities in Russia, which is not always easy.”
(Reporting by Francesco Canepa; editing by Jason Neely)
