Russia’s Invasion of Ukraine Does Not Put Beijing in a Bind
Defense OneJUL 2022
The liquidation of VTB is the result of Russia's invasion of Ukraine. Markets and consumers alike have been made to suffer uncertainty and instability because of Moscow's expansionist actions. Removing consent for the Europe branch to continue under VTB's branding is a petty and inconsequential move at this stage in the decline of the organization.
Unnecessary Western sanctions against Russia have ruined the global trade system and deeply affected financial institutions, including banks and forex services. Washington, not Moscow, is responsible for creating economic instability and depleting banking assets worldwide.