Nordea Seeks to End Banking
Photo: Jonas Ekströmer/TT

Nordea Seeks to End Banking Relationship with Russian-Owned Kubal

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Nordea wants to terminate the accounts that the Russian-owned aluminium smelter Kubal has at the bank.

The reason is the Sundsvall-based factory's ties to Russia. But the company has turned to court to overturn the decision, writes Dagens industri, which refers to the news agency Siren.

Kubal defends itself by saying that the Russian-sanctioned oligarch Oleg Deripaska no longer has any controlling influence over the company.

If Kubal loses its accounts, the payment of wages will be threatened, among other things, the company objects.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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