German Bank Restricts Schroeder’s Account
(MENAFN) A financial institution in Germany has placed limitations on an account held by former Chancellor Gerhard Schroeder, due to worries that certain financial transactions might be associated with Russia, according to a report by a news agency on Sunday.
These measures were introduced despite the fact that Schroeder is "not being listed under any sanctions."
The bank involved, Sparkasse Hannover, has reportedly had a longstanding association with Schroeder.
According to the report, the bank has blocked incoming transfers it suspects may be related to Schroeder’s professional connections with Russian entities.
These restrictions are said to affect almost EURO500,000 per year, a sum that Schroeder allegedly receives from his role on the board of Nord Stream 2 — a pipeline initiative owned by the Russian state-controlled energy corporation Gazprom.
The pipeline, which was designed to transport Russian natural gas directly to Germany, reached completion in 2021.
However, it never became operational due to European Union sanctions imposed over the Ukraine war.
In 2022, it suffered extensive damage in what has been described as an act of sabotage — an incident that Moscow attributes to "Western intelligence services."
In correspondence directed to Schroeder, Sparkasse Hannover reportedly mentioned concerns about breaching global financial regulations, especially those enacted by the United States against Russian energy firms.
The payments in question were allegedly funneled through a Gazprombank account located in Luxembourg, but have since been reversed following an internal investigation at Sparkasse that raised alarms about possible risks of violating "secondary US sanctions."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
