EU gives Russian banks relief

 

The European Union has given Russian banks a relief by passing amendments to sanctions. Russian banks may now get long-term financing (for over 30 days) if the said banks need finances to maintain solvency and credibility of legal bodies registered on the territory of EU with over 50% of their shares belonging to Russian banks, Interfax reports.The reliefs will help Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank.

 

The European Union has given Russian banks a relief by passing amendments to sanctions. Russian banks may now get long-term financing (for over 30 days) if the said banks need finances to maintain solvency and credibility of legal bodies registered on the territory of EU with over 50% of their shares belonging to Russian banks, Interfax reports.

The reliefs will help Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank.