DENVER | Former Colorado Gov. Bill Owens has resigned from his position as chairman of the supervisory board of one of Russia’s largest banks, Credit Bank of Moscow, an institution that is investor-owned.
The Colorado Sun reports Tuesday that Owens decided to resign after Russia invaded Ukraine last week and informed his colleagues on the board before formally giving notice on Sunday. Credit Bank of Moscow is not state-owned but is among 13 Russian financial institutions barred by the Biden administration from issuing shares and debt in the U.S.
Russian state-owned financial institutions have been slapped with more severe sanctions.
Owens was the last Republican to be governor in Colorado, serving from 1999 to 2007. He joined the bank’s supervisory board in 2012 and was chairman since 2013.
“Ukraine is a free and independent nation which was brutally attacked in an unprovoked way by Russia,” Owens told the Sun. “I believe the U.S. and our allies should stand for Ukraine, as they stand for us all.”
Why are Americans on boards of foreign banks, anyway? Of course, in the final analysis, there are no real local “banks.” It’s all the World Bank and the people it wants in place. He’s the perfect trooper for the World Bank and willingly does its bidding.