Thursday June 4, 2020

Sanctions-hit Russian bank plans to move ‘empty office’ to Dublin

Ian Guider

Markets Editor

6th January, 2019

A Russian bank hit by European and US financial sanctions plans to shift part of its London operations to Dublin after Brexit, but will not move a single employee to the state.

VTB Bank, a Kremlin-controlled bank, plans to merge part of its London-based commodities trading business with an Irish entity to ensure it can still serve clients after Britain leaves the European Union in March. However, the division does not employ any staff in...

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