Just the other day, McDonald's and Coca-Cola "temporarily" abandoned their own businesses in Russia (for the duration of the war). Starbucks and Pepsi have made similar moves. But amid reports about their heavy IT reliance on St. Petersburg (not to mention the German economy's massive dependence on Germany natural gas and oil), German banking giant Deutsche Bank has decided to defend its decision to continue operating in Russia during the war.

Speaking during a Thursday interview, DB CFO James von Moltke defended the bank's decision to stay, saying it hinged on its duty of care to clients that still operates in the country.

The decision comes as other major banks make moves to pull out of Russia, notably Goldman Sachs said Thursday that it was winding down its business in the country, while HSBC on Monday told employees to cease their dealings with Russian banks.

Von Moltke explained that the bank is "there to support our clients" and therefore, the decision to pull out "isn't one that's available to us".

"We're there to support our clients. And so, for practical purposes, that isn't an option that's available to us. Nor would it be the right thing to do in terms of managing those client relationships and helping them to manage their situation," James von Moltke said.