Court Bans ING Group from Terminating Banking Relationship with Gazprom
1 report, 1 independent
Updated Tue 00:00
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What happened
A court in Amsterdam banned ING Group from terminating its banking relationship with Gazprom. The ruling requires the Dutch bank to continue providing services to Gazprom until the Russian company can open an account with another European bank. ING Group had previously sought to end the contract after its patience ran out in October 2026.
From nltimes.nl
Why it matters
ING Group had argued it wanted to cut ties because it considered Gazprom, which is part of the Russian state-controlled Gazprom Group, a sanctions risk. The bank cited potential money laundering risks and reputational damage, even though Gazprom was not yet on a specific EU sanctions list.
From nltimes.nl