
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
Ukrainian Missiles Hit Russian Defense Plant, Zelenskyy Reports
Andrey Bocharov, governor of Volgograd region, verified the attack on Tele
CPMR Embraces "Committed European Vision for Islands"
The first-ever EU Strategy for Islands has been greeted as an “important political milestone for Europe’s maritime territories.”
The initiatives, which also include an EU Strategy for Resilient, Prosperous and Liveable Coastal Communities, have been advocated by the Conference of Peripheral Maritime Regions, CPMR, and its Islands Commission.
They establish, for the first time, dedicated European
EU Message Scanning Initiative Rekindles Privacy Debate
Member states seek to revive a temporary child-safety tool after Parliament rejected the measure in March
EU governments are working to revive a temporary legal framework that allows messaging providers to detect child sexual abuse material, revisiting the sensitive issue of balancing child protection, private communications, and power between the Council and the European Parliament.
EU ambassad
Ein Spaziergang durch Kiew mit Botschafter Thoms
Thoms reflects on the toughest winter in decades. Weeks of sub-zero temperatures, systematic attacks on energy infrastructure, and constant generator noise were meant to wear
Europe on Alert as Extreme Heat Threatens Public Health
Southern Europe, June 26 – Eurotoday Newspaper — Public Health Europe remains the primary focus as authorities across southern Europe respond to an intensifying heatwave that has pushed temperatures to dangerous levels. Millions of people are under weather alerts as health agencies urge residents and tourists to avoid prolonged sun exposure, stay hydrated, and check on elderly and vulnerable ind
Bosnia Begins WU19 EURO With Broader Ambitions
Women’s Youth Championship Kicks Off in Sarajevo and Zenica, spotlighting legacy, access, and Spain’s supremacy
By Daniel Mercer, Sports Correspondent, The European Times
The UEFA Women’s Under-19 Championship starts this weekend in Bosnia and Herzegovina, showcasing eight of Europe’s top youth teams in Sarajevo and Zenica. The competition is significant, particularly with Spain defending
Erdoğan launches crackdown ahead of NATO summit
NATO spokesperson Allison Hart stated Thursday that the alliance “relies on the host nation to provide assessments on journalists from their country.” NATO is communicating with Turkish authorities on accreditation, emphasizing the importance of media attendance at major events.
Campaigners accuse th
Why Thousands of UK Entrepreneurs Are Opting for Company Formation Packages in 2026
London, June 26 – Eurotoday Newspaper — Company formation packages are seeing record demand as thousands of UK entrepreneurs turn to online incorporation services to launch new businesses quickly and efficiently. Industry professionals report that founders are increasingly selecting digital registration solutions that combine company incorporation with compliance support, helping reduce paperwor
Brussels Strengthens Controls on Strategic Investment
EU Implements Mandatory Foreign Investment Screening Across Member States, Retaining National Decision-Making Power
The European Union has issued new guidelines for foreign investment screening, signifying a notable change in overseeing strategic areas like digital infrastructure, energy, transport, critical raw materials, and advanced technologies. This framework aims to bridge gaps between nat



Leave a Reply