2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India
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Pakistan
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Sri Lanka
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Nepal
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Detailed explanation-1: -The VTB Bank (Europe) SE (VTBE) with its head office in Frankfurt am Main will close its dependent branch in Vienna by the end of the year 2022.
Detailed explanation-2: -VTB Bank was designated in February 2022 and all entities owned 50 percent or more, directly or indirectly, by VTB Bank are blocked by operation of law pursuant to E.O. 14024, even if not designated by OFAC.
Detailed explanation-3: -VTB Group operates a large international network across CIS countries; Armenia, Belarus, Kazakhstan and Azerbaijan. VTB also has banks in Austria and Germany, which are part of the European sub-holding headed by VTB Bank (Europe) SE.
Detailed explanation-4: -It holds a German banking license. VTBE was completely shielded from Russian influence by the German supervisory authority already at the beginning of the year. For this reason, it is not subject to EU sanctions against Russia.