[/ATTACH][BR] Russia's second-largest bank, VTB, is closing its London-based investment banking arm VTB Capital, it said on Tuesday, as Western sanctions continue to restrict the international activities of Russian lenders.
VTB Capital plc is "currently undertaking a regular wind-down of its positions and liabilities," the company said, having laid off some staff members at the end of last week.
VTB's announcement is the latest sign of how US, UK and EU sanctions are hitting Russian financial firms after the country's biggest bank, Sberban, left Europe blaming cash outflows and threats to its staff and property.
(CNA)
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