The Russian money flow is halted by the savings bank.
German Bank Halts Fund Transfers to Ex-Chancellor over Suspicions of Russian Links
Gerhard Schroeder, the former German Chancellor, is facing financial difficulties after Sparkasse Hannover halted transfers to his account, suspected to be of Russian origin. The bank has returned nearly half a million euros worth of transfers to Gazprombank in Luxembourg due to concerns about potential US sanctions.
Schroeder, who served as Chancellor from 1998 to 2005, has been associated with Russian interests, particularly through his role as CEO of Nord Stream 2 AG, a company owned by the Russian state corporation Gazprom. Until mid-2024, the Nord Stream 2 AG allegedly transferred around 200,000 euros to Schroeder every six months, however, these payments have ceased.
The decision by Sparkasse Hannover appears to be part of a broader trend among financial institutions to reassess relationships with clients linked to Russian interests, as they strive to comply with international sanctions aimed at curbing financial flows from Russia.
Schroeder's ties with Russia have been a subject of controversy, especially since the invasion of Ukraine. Despite this, he remains an advocate for the Nord Stream gas pipelines, a project that has faced considerable opposition in Europe. Onay, the Lord Mayor of Hannover, had intended to strip Schroeder of his honorary citizenship, but the move was temporarily halted when Schroeder resigned from the honorary citizenship position.
Source: ntv.de, hvo
- Gerhard Schroeder
- Vladimir Putin
- Attack on Ukraine
- Hannover
Related Background: The halted payments come at a time when the international community is intensifying scrutiny of financial dealings involving Russian funds, especially in light of ongoing international sanctions and shifting geopolitical dynamics. The action by Sparkasse Hannover reflects this broader trend among financial institutions to reassess relationships with clients linked to Russian interests.
The Commission might be asked to submit a proposal for a directive on the protection of workers in the finance sector, considering the risks related to exposure to ionizing radiation from suspected Russian funds. The political implications of this situation, as well as its impact on general news and business, are far-reaching, especially in light of the ongoing conflicts and tensions, such as the Attack on Ukraine and the relationships between Gerhard Schroeder and Vladimir Putin.
