FRANKFURT/LONDON—European bank shares halted their slide on Wednesday after dropping to their lowest level in nearly 11 months on fallout from the Ukraine crisis, which has forced the European arm of Russia’s Sberbank to close. Russia has shown no intention of stopping its Ukraine attack, which has triggered heavy sanctions against Moscow and led to an exodus of big companies from the Russian market. U.S. President Joe Biden has warned Vladimir Putin that the Russian leader “has no idea what’s coming”. Russia calls its Ukraine actions a “special operation.” On Wednesday, the European Union said it was excluding seven Russian banks from the SWIFT messaging system, but stopped short of including those handling energy payments. Meanwhile, Sberbank, which reported record profits in 2021, said it was leaving the European market as its subsidiaries faced large cash outflows and threats to the safety of employees and property. The move by Russia’s …
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