Company: INGVF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0001628280-25-036812
Chunk: 20

Company: ING GROEP NV
Filing Date: 2025-07-31
Form: 6-K
Chunk 20
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 no longer do new business with Russian counterparties. Nevertheless, ING’s remaining operations in Russia and with Russian counterparties are subject to various

ING Group Condensed consolidated interim financial information on form 6-K for the six month period ended 30 June 2025 - Unaudited 14

| Contents |     | Interim Report |     | Risk management |     | Condensed consolidated interim financial statements |     | Notes to the Condensed consolidated interim financial statements |     | Additional notes to the Condensed consolidated interim financial statements |     | Other information |

risks, including, but not limited to, credit risk, changes in laws and regulations including sanctions and counter sanctions as well as conflicts of law, potential litigations and deconsolidation events.

In June 2025, ING’s remaining credit exposures to Russian counterparties, booked outside of Russia is €0.7 billion (31 December 2024: €1.0 billion).

On 28 January 2025, ING announced it had reached an agreement on the sale of its business in Russia to Global Development JSC, a Russian company owned by a Moscow-based financial investor with a background in factoring services. This transaction will effectively end ING’s activities in the Russian market. Under the terms of the agreement, Global Development will acquire all shares of ING Bank (Eurasia) JSC, taking over all Russian onshore activities and staff. Global Development intends to continue to serve customers in Russia under a new brand. The transaction, which has been preceded by extensive due diligence, is subject to various regulatory approvals and is expected to be closed in the third quarter of 2025. For further information on the sale, reference is made to Note 21 ‘Potential sale of ING Bank (Eurasia) JSC‘.

During 2024, a trend emerged whereby Russian parties are holding Western banks liable in Russian courts. The Russian parties claim that such banks, by complying with sanctions imposed by the EU, US and other authorities, have caused damage to the Russian party. There have also been instances where Russian courts ruled in favour of the Russian party. In these cases, Russian courts did not recognise such sanctions, did not respect the choice of law and courts pursuant to the applicable contracts, and held Russian subsidiaries of Western banks liable for acts by other entities in that banking group. For more information on litigation involving ING, see Note 20 ‘Legal proceedings’.

#### Exposure in Ukraine
In Ukraine, our credit exposure was approxima