Bank

Sber and other banks are actively closing their branches - Kommersant

Russian banks continue to cut offices. In May, according to the Central Bank, Sberbank increased its activity by closing 70 offices. Experts estimate that the reduction will allow banks to save up to 100 billion rubles a year.

In May Sberbank accelerated the closure of additional offices and for the first time this year left the banking sector behind by the number of closed branches. The bank closed 70 outlets last month, while everyone else together only 67 offices.

According to Sberbank, most customers use the mobile app.

However, the optimization of the network is turning into staff cuts, which hits the hard-hit labor market in Russia even harder

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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