New Development Bank still discussing impact of halting Russia transactions

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The bank, which was originally set up in 2013 to provide services to Brics members, which includes Russia, has joined others in withdrawing services to Russia due to the invasion of Ukraine.

CAPE TOWN - Senior members of the New Development Bank are still discussing the impact of their move to stop transactions with Russia.The bank has joined others in withdrawing services to Russia due to the invasion of Ukraine.

In their announcement, the bank made no mention of the war but did say that the decision was in line with its articles of agreement.

 

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