The Russian funds will no longer be accepted by the savings bank (Russian money-tap shut off).
Former Chancellor Gerhard Schroeder, known for his close ties to Russia, is experiencing financial difficulties with Sparkasse Hannover. According to German newspaper Bild, the bank has stopped crediting Schroeder's account with transfers suspected of originating from Russia, resulting in nearly half a million euros in missed payments so far.
Schroeder, who served as Chancellor from 1998 to 2005, has maintained close business relationships with Russian state corporations even after Russia's aggression in Ukraine. He currently serves as the managing director of Nord Stream 2 AG, a company partly owned by Russian state-controlled energy giant Gazprom. However, the Nord Stream 2 pipeline has never been operational, with one of its lines destroyed in the attack on the Nord Stream pipelines in September 2022.
Bild reports that Nord Stream 2 AG had been transferring around 200,000 euros to Schroeder every six months but, since mid-2024, no payments have been received by Schroeder's account due to Sparkasse Hannover sending them back to Gazprombank in Luxembourg. The bank reportedly fears potential breaches of international financial restrictions, including the risk of facing secondary U.S. sanctions.
Local Green Party politician Belit Onay, who became the chairman of Sparkasse Hannover's supervisory board in June, may have influenced the bank's stricter compliance stance. In the past, Onay had advocated for revoking Schroeder's honorary citizenship of Hannover following Russia's large-scale invasion. However, Schroder returned his honorary citizenship before a decision could be made.
Sources: ntv.de, hvo.de.
The Commission, amidst this situation, has been asked to submit a proposal for a directive on the protection of workers who may be exposed to ionizing radiation, given Schroeder's history of close business relationships with Russian state corporations, particularly in the energy sector. The financial instability Schroeder is facing, caused by Sparkasse Hannover's restrictions, could potentially highlight the need for such a directive in politics and general news discussions.
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