A Russian court in St. Petersburg ruled to confiscate a few hundred million € in “Russian assets” held at branches of Commerzbank, Deutsche Bank, and one other. The Sberbank Euro subsidiary went into technical default once the ECB banned it from effectively banking. The Russian Central Bank special ops hedges that risk out via commodities collateralization, so it ended up not being a cash flow default to end institutional investors.
The Russian government is reportedly 50%+1 owner of Sberbank. Sberbank was founded by Tsar Alexander II in 1840… initial partners are unknown, yet likely the traditional mainland European capital noble banking institutions as outlined in Niall Ferguson’s “Ascent of Money”.
Putin’s neo-KGB mal-information that he is “fighting against the New World Banking Order” is obviously then very disingenuous as he is a major promoter in Sberbank, which is a global banking power even with the sanctions…
The sanctions imposed on the Russian Federation by the West have proved their ineffectiveness not only in the financial sphere but in many other spheres too. One of the latest examples of successful sanctions circumvention is the Raduga State Machine Building Design Bureau sanctioned by the U.S. Treasury on March 24, 2022. Despite these sanctions, the Russian enterprise continues its operations. The detailed Plan for Technical Modernization and Reconstruction for 2023 obtained by the Ukrainian Cyber Resistance and published by famous OSINT-investigator Tatarigami included a budget and a list of specific equipment, along with their country of origin. Such non-Russian companies as Fagima Jazz R (Italy), Automator (Italy), Hottenger Gmbh (Germany), Hangcha (China), and Hision (China) have been mentioned in the plan.
However, Biden and von der Leyen are still mulling around…
