According to a court in the Dutch capital, this bankruptcy is due to the sanctions imposed on the company as a result of the war in Ukraine.
Amsterdam Trade Bank, a subsidiary of Russian giant Alfa Bank that was the target of sanctions after invading Ukraine, was declared bankrupt by a court in the Dutch capital on Friday.
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“The Amsterdam court declared the bankruptcy of Amsterdam Trade Bank NV on its own today (Friday),” the court said in a brief statement. On April 6, Washington announced maximum sanctions against major Russian banks Sberbank and Alfa Bank, freezing all their assets in contact with the American financial system.
The Amsterdam Trade Bank, founded in 1994, also got into trouble because of British sanctions, according to the Dutch news agency ANP. Leading daily Het Financieele Dagblad reported earlier this week, based on sources, that the bank had approached investors with a takeover bid.
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The Amsterdam Trade Bank previously said in a statement on its website that it “strongly condemns the invasion of Ukraine and this is a war that Russia must end”. “As a regulated Dutch (European) bank, we operate independently of all our shareholders, are managed separately and comply with all sanctions against Russia,” she wrote, specifying “not having been subject to the recently announced EU sanctions.”
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