- Deep takes two as Bangladesh totter in reply to India's 376
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- Ashwin's 113 powers India to 376 in Bangladesh Test
- Biden opens home to 'Quad' leaders for farewell summit
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- Taiwan questions two in probe into Hezbollah pagers
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- Farrell set for 'challenge' of downing Bordeaux in Top 14
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- Inter on a high ahead of Milan derby as Napoli face Juve test
- Bank of Japan leaves key interest rate unchanged
- Arnold quits after six years in charge of Australia
- Asian markets track Wall Street record to extend global rally
- Guirassy and Anton to return to Stuttgart with new side Dortmund
- Marseille bidding to continue 'almost perfect' Ligue 1 start
- Arnold quits as coach of Australia men's football team
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- Man City face Arsenal in Premier League title showdown, Postecoglou under pressure
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- World leaders to gather at UN as crises grow and conflicts rage
- How plastic pollution poses challenge for Canada marine conservation
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- Japan inflation firms to 2.8% ahead of BoJ rate decision
- Russia's Kadyrov accuses Musk of 'remotely disabling' his Cybertruck
- Titan sub had to abort a dive days before fatal implosion: testimony
- Ohtani makes MLB history with first 50-homer, 50-steal season
- Ohtani eyes MLB history after surpassing 50 stolen bases, 49 homers
- Ohtani eyes MLB history after surpassing 50 stolen bases
- Barca downed by Monaco as Arsenal held in Champions League stalemate
- Head's 'good night at office' after century seals win over England
- Dubois seeks legitimacy with Joshua scalp
- Rate cut could lift consumer spirits before US elections
- Last-gasp Gimenez strike sends Atletico past Leipzig
- Barca stumble at Monaco after early red card
- Raya heroics save Arsenal in Champions League opener at Atalanta
- Cathay Airbus engine fire linked to cleaning: EU regulator
- Guardians beat Twins to secure MLB playoff berth
- Jihadist attack in Mali capital killed more than 70: security sources
- Alonso hails 'efficient' Leverkusen after Feyenoord rout
- Head's hundred seals Australia win over England in 1st ODI
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- Head's hundred seals Australia win over England in 1st ODI after Labuschagne strikes
European subsidiary of Russia's Sberbank 'failing or likely to fail': ECB
The European subsidiary of Russia's state-owned Sberbank is facing bankruptcy, the European Central Bank said Monday, in the wake of sanctions aimed at punishing Moscow for its invasion of Ukraine.
Sberbank Europe AG, headquartered in Austria and with branches in Croatia and Slovenia, has "experienced significant deposit outflows as a result of the reputational impact of geopolitical tensions", the ECB said.
"The European Central Bank (ECB) has assessed that Sberbank Europe AG and its two subsidiaries in the banking union, Sberbank d.d. in Croatia and Sberbank banka d.d. in Slovenia, are failing or likely to fail owing to a deterioration of their liquidity situation," the ECB said in a statement.
"The bank is likely to be unable to pay its debts or other liabilities as they fall due," it added.
The two largest Russian banks, Sberbank and VTB, were targeted Thursday by tough US sanctions aimed at limiting their ability to conduct business internationally.
The sanctions were stepped up over the weekend with the announcement that selected banks would be expelled from the international SWIFT payment system.
Sberbank Europe AG -- which is 100 percent owned by the bank's Russian parent company -- also has subsidiaries in Bosnia and Herzegovina, the Czech Republic, Hungary and Serbia, which do not come under the jurisdiction of the ECB.
The ECB said it has "coordinated with national competent authorities" in those countries.
K.Brown--BTB