Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalOWH SE i.L. is the renamed VTB Bank (Europe) SE i.L. The name change was approved by the Annual General Meeting on December 11, 2023 and has taken effect on January 2, 2024. The extraordinary general meeting of the bank on March 24, 2023 in Frankfurt am Main had passed the resolution that the bank will be liquidated on April 1, 2023 and transferred to a liquidation process. The abbreviation “i.L.” in the company name means “in liquidation”. During the solvent liquidation phase OWH SE i.L. continues to process all existing business and customer relationships until the liquidation is completed.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalVTB Bank reported that it had received from its European subsidiary, the German OWH SE (formerly VTB Bank Europe), a notice of intention to deprive the bank of its ownership rights. VTB considers such actions by the German side to be aggressive and promises a symmetrical response. The US Treasury has removed the former European division of VTB Bank from anti-Russian sanctions. Ost-West Handeslbank was excluded from the sanctions list, as well as its former names - VTB Bank Europe and VTB Bank Deutschland. The reason for this decision is not specified.
| April 03, 2024 | The United States removed the former European branch of the Russian VTB bank from sanctions |