The European Bank for Reconstruction and Development (EBRD) has announced that it is in the process of closing its Resident Offices in Moscow and Minsk.
The EBRD has strongly condemned the war on Ukraine. “The decision to close the offices in Moscow and Minsk is the inevitable outcome of the actions taken by the Russian Federation with the help of Belarus,” says the EBRD.
The Bank had already decided to suspend both countries from EBRD finance and expertise.
The bank has also agreed an initial €2 billion package for Ukraine and other countries which have been affected by the war.
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