Europe is carving up Sberbank of Russia PJSC’s business in the region after sanctions sparked by President Vladimir Putin’s invasion of Ukraine prompted a run on its local deposits.

Austria-based Sberbank Europe AG will be liquidated under local insolvency procedures while all shares in its Croatian and Slovenian subsidiaries will be transferred to other firms in those countries, according to the Single Resolution Board, which handles failing European lenders. Shares in the parent company listed in London were down 90% on Wednesday, with Russian stock trading remaining closed.

The U.S. and European Union are ramping up measures against Russia by blocking some of the nation’s banks from various parts of the global financial system. Already last week, the U.S. said it was sanctioning five of Russia’s largest lenders, including Sberbank and VTB Bank PJSC. While Sberbank in Europe accounts for only a fraction of the lender’s overall business, its shuttering is a further blow to Russia.