The European subsidiaries of the Russian bank Sberbank are bankrupt. According to the European Central Bank (ECB), this situation is due to Western sanctions against Russia.

The impact of Western sanctions on the Russian financial system are enormous. According to the European Central Bank (ECB) Sberbank Europe, "significant" withdrawals of deposits are observed due to the conflict in Ukraine and the sanctions decided by Western countries. Thus, several European subsidiaries of the Russian bank Sberbank, majority owned by the Russian government, are bankrupt or likely to go bankrupt.

Separately, the Russian ruble plunged nearly 30% against the dollar on Monday after international powers imposed new, tougher sanctions on Moscow over its invasion of Ukraine, including blocking transactions in the Russian Central Bank.