14/01/2025 (Agence Europe) – On Tuesday 14 January, the Single Resolution Board (SRB), the European authority responsible for resolving failing banks within the banking union, ruled that “no compensation is due” to the shareholders of the Austrian, Slovenian and Croatian subsidiaries of the Russian bank Sberbank, the resolution of which was initiated in 2022 in response to Russia’s military aggression against Ukraine (see EUROPE 12902/2). According to the European authority, the shareholders concerned “were better off in resolution than they would have been under normal insolvency proceedings”. This decision is based on post-resolution valuations carried out by an independent valuer and on comments received as part of a dialogue with stakeholders, the SRB said in a press release. Further information: https://aeur.eu/f/f0w (MB)