Danske Bank have no physical presence in Russia. We do not hold Russian assets in the bank's treasury and will not acquire or invest in such assets.
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We have decided to exclude Russian government bonds and Russian state-owned enterprises from our investment portfolios and products. The implementation will be executed in a way and to an extent that is consistent with our fiduciary duty and will among other things be subject to client contracts and mandates, fund boards and other formal approvals as well as our ability to transact in the market place.
In line with our Financial Crime Policy, Danske Bank observes relevant sanctions regimes in all jurisdictions where we operate and to which we are exposed.
We observe United Nations, EU and UK sanctions, as well as US sanctions to the extent they have relevant implications for the Group’s business activities. In addition, we may adopt additional restrictions based on overall financial crime risks. Specifically regarding the EU, US and UK sanctions enacted in response to Russia’s invasion of Ukraine, Danske Bank will comply with the new restrictions.
More on what sanctions are