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Al-Qassam: We will postpone the handover of the body of the Israeli captive we found, which was scheduled for today, due to the occupation's violations
Al Mayadeen's correspondent in Gaza: Israeli occupation aircraft launch airstrikes on the city of Rafah in the southern Gaza Strip
Netanyahu's office: At the end of the security consultations, the prime minister instructed the military to launch massive military strikes on the Gaza Strip immediately
President Aoun: We urge the activation of the monitoring committee, the cessation of hostilities, ongoing Israeli violations, attacks
Lebanese President Joseph Aoun to US Envoy Morgan Ortagus: Southerners must be enabled to return to their homes and rebuild
Syrian sources: The Israeli occupation has begun withdrawing from the areas it infiltrated last night in the Quneitra countryside.
Al Mayadeen's correspondent: Massive bombings in eastern Gaza, the second within half an hour, and its sound was heard from central area.
Russian air defense units destroyed a drone that was heading toward Moscow.
Maduro: Tomorrow, a business meeting will be held bringing together hundreds of entrepreneurs from advanced Russian industries with hundreds of Venezuelan businesspeople.
Maduro: In the face of threats, Trinidad and Tobago agreed to suspend all effects of the energy agreement and everything that had been agreed upon in that regard.

Deutsche Bank slams closing in Russia as impractical

  • By Al Mayadeen Net
  • Source: Agencies
  • 11 Mar 2022 12:11
2 Min Read

Deutsche Bank goes against the current, saying it’s not practical for it to close its business in Russia because of its duty toward its clients.

  • x
  • Deutsche Bank's CFO said that the bank may reconsider its position if the political situation escalates further
    German Deutsche Bank Ltd.

Germany’s Deutsche Bank Ltd., contrary to corporations following the trend of distancing themselves from Russia, has opted to continue its business in the country.

Read more: Russian-bred cats 'banned' from int'l events

The bank’s CFO told CNBC that the decision stemmed from Deutsche Bank’s duty to care for its clients that still operate in the country. Meanwhile, Goldman Sachs said on Thursday that it would limit its business in Russia, and HSBC told its staff on Monday to stop dealing with Russian banks.

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“We’re there to support our clients. And so, for practical purposes, that isn’t an option that’s available to us. Nor would it be the right thing to do in terms of managing those client relationships and helping them to manage their situation,” Deutsche Bank CFO James von Moltke said.

However, if the bank’s clients cease their operations in the country, so would it, he said.

Recently, Western Union announced it will stop money transfers in Russia and Belarus on March 24, giving its customers a 2-week period to prepare for the termination of the service, the company's spokesperson told RIA Novosti. 

Russian President Vladimir Putin said on March 5 that the wave of sanctions the West has been imposing on Russia as a consequence of its military operation in Ukraine is comparable with a declaration of war. 

"These sanctions that are being imposed, they are akin to a declaration of war," Putin said at a meeting with female flight crews of Russian airlines. 

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