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The pan-European STOXX 600 index was down 0.3% by 0717 GMT, after posting its biggest weekly percentage loss in three months at the end of a central bank policy-packed week on Friday.
The energy sector, meanwhile, gained 0.2% as oil prices climbed after a revolt by Russian mercenaries over the weekend stoked concerns about a potential hit to oil supply from Russia.
The banking index was the biggest drag on the STOXX index, down 1%, with shares of Deutsche Bank (ETR:DBKGn) falling 2.4%.
Reuters reported that Deutsche bank told clients it can no longer guarantee full access to Russian stocks that belong to them.
Market focus is also on a German business sentiment reading for June, due at 0800 GMT.
