An alarm signal. Five Pilon II private pension funds have 350 million lei locked up at the Russian-controlled International Investment Bank. The bank failed to repay two loans on October 7 and 19. Funds: “I turned to lawyers”

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An alarm signal. Five Pilon II private pension funds have 350 million lei locked up at the Russian-controlled International Investment Bank. The bank failed to repay two loans on October 7 and 19. Funds: “I turned to lawyers”

The International Investment Bank (IIB), a financial institution in which Russia is the largest shareholder, and from which Romania requested to withdraw after the war triggered by Russia in Ukraine, missed repayment deadlines on two loans in which five Pilon II private pension funds invested 350 million lei at interest rates of 3.00 million lei. 39% and 3.9% per year in lei due to having accounts blocked amid Western sanctions.