/ world today news/ The Russian state bank VTB is included in the new list of institutions sanctioned by the EU due to the Russian role in the events in Ukraine, which will be officially announced on Wednesday, July 30. Apart from it, another state bank from Russia enters it – Sberbank.
VTB controls just under 10% of Corporate Commercial Bank, but this share is expected to be nationalized by Bulgaria in the liquidation process of KTB. In addition, the Russian banking group, through its office in Bulgaria, acquired a stake in Bulgartabac and the telecom operator Vivacom.
The sanctions against the banks are related to the decision to isolate certain Russian companies and individuals from the financial markets in the EU. Through them, the West is trying to exert even more serious pressure on President Vladimir Putin, so that he does not finance his policy through them. Now, for them, external financing through loans or issuing bonds will be impossible in the US and the EU, and outside them it will be too expensive or partners will refuse them funds, so that they are not thrown out of the financial markets in the West. The alternative is money from the state, fundraising from the population of Russia, or turning to new areas such as Asia.
“Vnesheconombank” (VEB) – another of the Big Four with over 50% state share has already been sanctioned by the USA with a ban on working with the American credit and debt markets. The fourth – the Russian Agricultural Bank (Rosselkhozbank) remains the only one outside of those subject to sanctions, most likely because it is not directly related to Moscow’s actions in Eastern Ukraine, reminds Dnevnik.bg.
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