British MPs urge global banks to close Russian offices 'without delay'
MPs are urging major banks to shut their Moscow offices, after campaigners accused them of “quietly profiting” off their Russian operations while other industries sever ties with the country.
Some of the City’s largest lenders including JP Morgan, Deutsche Bank, HSBC and Credit Suisse collectively employ thousands of staff who offer banking services to large companies and wealthy clients doing business in Russia.
While banks have had to drop services for Russian businesses and oligarchs in line with EU, US and UK sanctions, MPs said lenders had a moral duty to exit the country to put further financial pressure on Moscow as the Russian military continues to assault Ukraine.
“It’s not particularly shocking to see that major City or European banks have a presence in Russia,” the senior Labour MP Dame Margaret Hodge said. “But what is shocking that we have not heard from the banks what they plan to do about it.”
https://www.msn.com/en-us/news/world/british-mps-urge-global-banks-to-close-russian-offices-without-delay/ar-AAUGSuI
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