Deutsche Bank London Threatens to End Business With Russia
- Request for more information said to be part of broader push
- Lender said to have sent letter to Russian government in June
Photographer: Christopher Ratcliffe/Bloomberg
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Deutsche Bank AG threatened to end business with Russia’s government earlier this year in a letter sent to the state demanding that it provide more information related to know-your-customer records.
The lender’s London branch sent the correspondence in June saying the business relationship could be terminated if Russia failed to submit the documents within 30 days. While that deadline has long since elapsed, Russia never answered the letter and the German bank hasn’t followed up on the initial request, according to two people with knowledge of the matter.