Brussels (Eurotoday) – The EU General Court has rejected UniCredit’s request to suspend the ECB’s order to reduce its Russian operations.
Reuters has reported that the European Union’s General Court has declined UniCredit’s request to temporarily discontinue a European Central Bank order to scale back its presence in Russia. The EU’s General Court is a constituent part of the European Court of Justice.
Why did the EU General Court reject UniCredit’s request?
The document indicates that the ECB had considerations related to terrorism financing and financial sanctions in Russia and that it found in January last year that UniCredit’s actions were not enough to counterbalance the threats. One of the ECB’s situations was a lack of access to client information kept by UniCredit subsidiaries in Russia and the impossibility of seeing the offices there for reviews, according to a summary contained in the court document.
How is the ECB addressing UniCredit’s Russian operations concerns?
European Central Bank, the lender’s chief supervisor, urged UniCredit earlier this year to additionally scale down its functions in Russia, including imposing a prohibition on new deposits and regulations on handling payments. In 2023, it also requested the bank to regard the sale of the UniCredit subsidiaries in Russia, the document reveals.
UniCredit, a pan-European Commercial Bank, requested the EU General Court to reject the demands, which CEO Andrea Orcel expressed could breach Russian laws. UniCredit had aimed to have the actions suspended while the court proceeding is pending, and in July stated that a decision on a suspension was expected “in the coming months”. The final proceedings for the issue are still pending.
UniCredit’s links to Russia date back to its obtaining a stake in International Moscow Bank, the first Russian lender to submit funds from foreign banking institutions. Following further modifications in ownership, it was renamed AO UniCredit Bank and in 2015 was included in the list of systemically significant banks by the Bank of Russia. When Russia overran Ukraine in 2022, UniCredit remained in Russia, one of two European banks along with Austria’s Raiffeisen to keep large operations in the country.
Comments
2 responses to “EU Court Rejects Unicredit’s Request to Suspend Russian Operations”
-
Looks like UniCredit’s Russian operations are getting about as much love from the EU Court as a soggy baguette at a Michelin-starred restaurant. 🍞😏 Maybe they should have brought some proper bribes—oops, I mean “incentives,” to the table!
-
Looks like UniCredit’s plans for a Russian vacation just got cancelled by the EU Court—who knew a bank could be so bad at following rules? 🤷♂️ Guess they’ll have to stick to nice, cozy coffee breaks in Brussels instead! ☕️✨
Last News
Brussels Sought to Reduce Red Tape: Easier Said Than Done
Victory Marks New Beginning: Konstantin Rudnev Under House Arrest
Taiwan Reasserts Sovereignty in Response to "Escalating Military Threat"
Taiwan has hit out at what it calls an “escalating military threat” posed by its neighbour China.
The comments come in the wake of last week’s key meeting in Beijing between U.S President Donald Trump and his Chinese counterpart, President Xi Jinping.
The main focus of the trip was trade but it was the other “T” – Taiwan – that made many headlines around the globe.
Xi told Trump that Taiwan was
Europe’s Medicine Shortages: What’s Going Wrong?
Le Sénat invité à lever l’immunité parlementaire de Francis Szpiner
Britain and Europe: The Journey to Reconciliation – by Edward McMillan-Scott
Wes Streeting’s call for Britain to rejoin the European Union, and Andy Burnham’s more cautious but still sympathetic noises, signal something important: the question of EU membership is no longer taboo in mainstream politics.
A decade after the Brexit vote, the argument has shifted from whether the UK might return to how—and at what cost.
The case for rejoining is, at first glance, largely econ
PARTESS-COM – National One-Day Training in Sofia
Enhancing Capacities for Religious Leaders and Communities
On 15 May 2026, the Bridges Association hosted an interfaith capacity-building training at SOHO Space in Sofia. The event was part of the EU-funded project PARTESS-COM, where Bridges is a Bulgarian partner.
The training was conducted by experts from Enhancing Faith Institutions (EFI), a UK-based organization specializing in security for
French Presidential Candidate Philippe Under Investigation for Embezzlement
Philippe, a prominent candidate for the 2027 presidential election, “acknowledges” the inquiry commencement against him, said the official from
UK Rejoining EU Requires "Focused Review" – Senior MEP
The chair of the EU Parliament’s influential foreign affairs committee has told the UK there are “no political shortcuts” to any possible return to the EU.
German deputy David McAllister also branded the UK vote to exit the EU as a “historical mistake.”
He was speaking amid ongoing current speculation about possible future EU policy under the Labour government.
With UK PM Sir Keir Starmer coming
Leave a Reply