You're reading: Gunman holds hostages in Belgorod bank office

"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 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.