Saturday. 20.04.2024

 Deutsche Bank boss Christian Sewing has warned against imposing new sanctions against Russia too soon.

"We should first let the sanctions that have been announced take effect," Sewing told Germany's Welt am Sonntag newspaper.

Sewing said that whether there is actually a need for tougher financial and economic sanctions must be continually under review, adding that the German government must recognize that the measures "have a negative effect on us."

At the same time, however, Sewing made it clear: "If the German government deems it necessary, we will support it."

Last week, Deutsche Bank announced that it would scale down its business in Russia in view of the invasion of Ukraine.

Sewing told the newspaper: "With the knowledge we have today, we would certainly have withdrawn even faster in the past years.

Deutsche Bank boss cautions against further sanctions on Russia