Post-Sanction Bankruptcy Statement from the Russian Bank in the Netherlands

Amsterdam Trade Bank, which is a subsidiary of Russian Alfa Bank in the Netherlands and focuses on providing trade finance to companies that want to do business in the former Soviet states, declared bankruptcy due to the heavy sanctions imposed. In a written statement made by Amsterdam Trade Bank, the subsidiary of Alfa Bank, one of the Russian giants, which continues its activities in the Netherlands, the statement "The sanctions imposed by the USA and England made it difficult for the bank to continue its activities." It was added to the explanations that the court appointed two officers to handle the bankruptcy liquidation process. Furthermore, it was announced that deposits of up to 100,000 euros can be recovered under the Dutch Central Bank's (DNB) savers protection program, and that the procedure will be maintained by the DNB. According to the Dutch newspaper Financieel Dagblad, the Amsterdam Trade Bank is owned by Mikhail Fridman, one of Russia's most prominent bankers who is also on the sanction list, and the bank has approximately 23 thousand private customers. The last time DSB Bank in the Netherlands declared bankruptcy was in 2009 due to insolvency.