Fresh BIS figures show that Russia exposures of Western/European banks are rapidly approaching the "new normal" low single digit exposure range coming from a relative portfolio share of 10%+ (being once on par with Poland or Czechia at ~20%!). Over the next 6-12 months Western bank exposures towards Russia may approach 1998/99 or 2005 levels, the financial interconnectedness with the late Soviet Union is then possibly in further sight, over the next 12 months. |