Financial institution ceases to accept Russian funds, figuratively closing the tap for financial transactions.
Russian Money Tap Shuts off for Gerhard Schröder: Sparkasse Hannover Halt Transfers
Gerhard Schröder, the former German Chancellor, is experiencing financial difficulty with long-time bank Sparkasse Hannover due to concerns about US sanctions and ties with Russia. According to a report by Bild newspaper, the bank has stopped crediting Schröder's account with transfers allegedly from Russia, resulting in nearly half a million euros in missed payments.
Schröder, who served as Chancellor from 1998 to 2005, continues to work for Russian state corporations, a decision that has persisted even during Russia's attack on Ukraine. He currently heads Nord Stream 2 AG, a company owned by Russian energy giant Gazprom, which has yet to operate.
The bank is said to have halted the transfers, estimated to be around 200,000 euros every six months, due to the fear of being hit by US sanctions. The newspaper speculates that the decision may have been influenced by Hanover's mayor, Belit Onay, who took over as the supervisory board chair of the Sparkasse in June. Neither the bank nor the mayor's office responded to requests for comment regarding the matter.
In response to the Russian invasion of Ukraine, Onay initially sought to strip Schröder of his honorary citizenship of the city of Hanover. However, Schröder preemptively gave up the honorary citizenship before a decision was made. Onay at the time stated, "Given that Gerhard Schröder is not ready to draw personal consequences from the war in Ukraine, ending his honorary citizenship is consistent." Ongoing business connections between Schröder and "war monger" Putin, according to Onay, are not aligned with the city's values.
[Sources: ntv.de, hvo]
- Concerns about US sanctions and the politics surrounding Gerhard Schröder's ties with Russia have not only affected his finances with Sparkasse Hannover, but it might also influence the Commission's decision on a potential directive for the protection of workers from the risks related to exposure to ionizing radiation, given Schröder's role in the nuclear industry.
- Amidst the general-news headlines about Gerhard Schröder's financial troubles, the Commission's proposal for a directive on the protection of workers from the risks related to exposure to ionizing radiation could potentially find funding, as it seeks to address pressing issues that are vital in today's political climate.
