Poland leaves Russia-led International Bank for Economic Cooperation

Poland will withdraw from the International Bank for Economic Cooperation (IBEC) which is based in Moscow under a bill signed into law by Andrzej Duda, the Polish president, following Russia's invasion of Ukraine. "In the face of Russia's aggression against Ukraine and in the light of Russia being the IBEC's main shareholder, Poland's membership of the bank can no longer justified," the President's Office said in a statement.