Western banks still operating in Russia are preparing to lose $10 billion collectively as they pull

[Yo_Mama_Been_Loggin]

out of the country, a report says

Western banks that are still operating in Russia could lose huge sums as they prepare to pull out of the country.

The Financial Times first reported the story.

According to some FT calculations, banks that are planning to close their Russian operations, which collectively have $86 billion of exposure in Russia, are setting aside more than $10 billion in expected losses.

This comes amid international sanctions forcing businesses and banks to cease operation in Russia because of its invasion of Ukraine.

https://www.msn.com/en-us/money/personalfinance/western-banks-still-operating-in-russia-are-preparing-to-lose-dollar10-billion-collectively-as-they-pull-out-of-the-country-a-report-says/ar-AAX12Wo

[uponit7771]

1. K&R, Russia is propping the rubble by stealing assets of companies leaving it. It'll last another 6

... months before a total collapse starts to show.

They'll adapt into a near autarky or another client state of China

[Backseat Driver]

2. Better hope there's enough left to cover the virtual "stillborn" and/or baby w/

devastating birth-defects who bears the physical/mental/financial name Great Chaos, not to mention the possibly of all live-changing/ending complications to Mother Earth, no?

Pulling out" only has from 4% (done perfectly) to perhaps 20% efficacy as prevention;

Abortion - 0.09% failure at all ages of gestation. We're well past best prevention scenarios in re: MF'g Putin's conceptional and delusional event of "special training operation" as the best intention of anti-gestational efficacy and/or maternal safety as the choice...The West's banks better hurry yet proceed with great caution and perfect execution as we're rapidly approaching the second trimester, just sayin'

[barbaraann]

3. Can't they destroy cash or assets so the Russians don't get it?

I remember when De Gaulle kicked the US military out of France and the soldiers destroyed everything before leaving.