Bank ceases accepting Russian funds inflow
Gerhard Schroeder Faces Financing Issue with Sparkasse Hannover Over Suspected Russian Transfers
Sparkasse Hannover, a German bank, has ceased crediting the account of former Chancellor Gerhard Schroeder with transfers that are suspected of originating from Russia, according to a report by Bild newspaper. This move has resulted in Schroeder missing out on approximately half a million euros.
Schroeder, 81, who left office in 2005, has had ties with Russian state corporations since then, a relationship that continued even after Russia's invasion of Ukraine. Currently, he serves as the CEO of Nord Stream 2 AG, a company owned by the Russian state corporation Gazprom. Although the pipeline has yet to become operational, one of its sections was destroyed in the September 2022 attack on the Nord Stream pipelines.
Bild has reported that Nord Stream 2 AG has been transferring around 200,000 euros to Schroeder every six months. However, since mid-2024, no money has reached him. Sparkasse Hannover has been returning the transfers to the Gazprombank in Luxembourg, citing the potential risk of being targeted by US sanctions as the reason for the decision. It is speculated that the decision may have been influenced by Hannover's Lord Mayor Belit Onay, who joined the bank's supervisory board in June. Neither Onay's spokesperson nor the bank replied to Bild's request for comment.
In earlier attempts to disassociate Schroeder from Russia, Onay intended to rescind Schroeder's honorary citizenship of the city of Hannover at the onset of the large-scale Russian invasion of Ukraine. However, Schroeder resigned from his honorary citizenship before a decision could be made. Onay argued that Schroeder's ongoing business ties with Russian President Vladimir Putin, whom he referred to as a "war-monger," were incongruous with the city's values.
Sources: ntv.de, hvo
- Gerhard Schroeder
- Wladimir Putin
- Attack on Ukraine
- Hannover
In the height of economic, political, and general-news tension, Gerhard Schroeder's ties with the Russian industry, specifically Nord Stream 2 AG, have led to a financing issue with his local bank, Sparkasse Hannover. Remarkably, the Commission has also been asked to submit a proposal for a directive on the protection of workers from the risks related to exposure to ionizing radiation, considering Schroeder's proximity to Russian state corporations that handle such substances.
