UBS's Weber: No New Business in Russia, Winding Down Trades

The video discusses the impact of the 2008 crisis and the current situation with Russian collateral on Swiss banks. UBS has been reducing its exposure to Russia since January, aligning with global sanctions. The bank does not disclose Russian money by citizenship but by region. The future of Russian banking is uncertain, with long-term consequences expected even if a ceasefire occurs. UBS is focused on winding down operations and reducing exposures in compliance with regulatory obligations.

What challenges has the bank faced regarding the alignment of sanctions?

What are the implications of the sanctions for Russian citizens living in the European Union?