Gunman holds hostages in Belgorod bank office

A gunman broke into a bank branch in Belgorod on Monday and demanded 25 million rubles, a law enforcement source told Interfax.

A gunman broke into a bank branch in Belgorod on Monday and demanded 25 million rubles, a law enforcement source told Interfax.

"At around 10:45 a.m. an on-duty officer received a report that an armed man walked into the office of the Zapadny Bank and demanded $700 000 (25 million rubles). There are about ten people inside the building. An operative group has travelled to the scene. The building has been cordoned off, and a negotiator is working at the scene. The situation is under control," the source said.

Operatives are trying to establish the criminal's identity.

Law enforcement officials were not immediately available for comment on the matter Zapadny Bank's license to carry out banking operations has been recalled, the Russian Central Bank said in a statement earlier.

The license has been recalled since April 21.

The regulator has found its reports to be substantially misleading, according to the CB press release.

Zapadny Bank ranked 137th by assets in the first quarter of 2014 in the Interfax-100 ranking prepared by Interfax-CEA.

Read more: Central office of Master Bank is still closed to clients

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