Western banks have no excuse for funding Putin's war machine [Yahoo! Finance]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
Company Research
Source: Yahoo! Finance
For Western companies, it meant making some tough but very obvious decisions about their presence in Russia . Choosing to stay in the country was effectively the same as choosing to fund Putin's war machine – chief executives knew the financial implications of continuing to do business with the Kremlin, not to mention the massive propaganda victory it handed Moscow. The same applied to any organisation doing business with a Russian organisation or individual, or helping to facilitate Russian trade whether its oil , gas, coal or other exports. Most Western outfits grasped the nettle and got out quickly, often suffering sizeable losses on the businesses they abandoned. Others dragged their feet but exited eventually, and at times under visible duress. Some said they wanted to get out but provided a whole variety of reasons as to why they couldn't immediately. For a while they were given the benefit of the doubt, on the understanding that it was the bureaucracy of Russia's state m
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