In response to hostilities in Ukraine, the Board of Directors of the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development finance institution, recently proposed to the institution’s Board of Governors that it cut off assistance to Russia and Belarus, both of which are EBRD members. EBRD has outstanding investments of about EUR 900 million (USD 980 million) in each country as of January 2022. EBRD also is considering participating in
