VTB’s European Unit Put Up for Sale as Sanctions Fallout Spreads
- Regulators said to support process to avoid messy unraveling
- Sberbank’s main European business liquidated after sanctions
The logo of VTB Bank on a building in Frankfurt, Germany.
Photographer: Hannes P. Albert/picture alliance/Getty Images
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Russian lender VTB Bank PJSC’s European unit has been put up for sale after sanctions imposed in the wake of Moscow’s invasion of Ukraine cut it off from the parent company.
German regulators are backing the bank’s plan as they seek to avoid a messy unraveling of Frankfurt-based VTB Bank Europe SE, according to people familiar with the matter. While a sale isn’t the only option, it could be agreed at short notice, the people said, asking to remain anonymous as the matter is private.