Al-Marsad newspaper – agencies: Archyde.com quoted two sources as saying that the UAE’s Mashreq Bank decided to stop lending to Russian banks “due to the heightened risks” due to the Russian-Ukrainian war, and is also reviewing its current position in the Russian market.
The two sources said that Russian financial institutions were part of Mashreq Bank’s emerging market loan portfolio, which the bank has expanded to outside the Middle East.
According to Archyde.com, this decision is the first step by a bank in the Middle East to stop its links with Russia.
The international community is trying to deprive Russia of all its international funding and freeze the assets of Vladimir Putin and those close to him, according to AFP.
