European Bank for Reconstruction and Development refused to invest in Russia

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European Bank for Reconstruction and Development refused to invest in Russia
European Bank for Reconstruction and Development refused to invest in Russia
29 June 2021, 18:07EconomyPhoto: n-link.az
Russia became a member of the European Bank for Reconstruction and Development (EBRD) in 1992, its share in the bank is 4.1%.

In 2014, after the introduction of the first anti-Russian sanctions by the EU and the US, the EBRD suspended investments in Russian projects. In response, the Russian Ministry of Finance announced a possible reduction in the share to 0%.

The EBRD itself, established in 1991, while investing in Europe, Central Asia, North Africa and the Middle East.

According to finanz.ru , the EBRD still does not intend to resume investments in Russian projects and there is no reason to expect that this will happen in the coming years. This was announced today, June 29, by EBRD President Odile Renault-Basso.

"Our shareholders have not changed their position on financing projects in Russia since 2014. Then they took a clear position that there will be no financing for new projects in Russia", - the TASS agency quotes Odile Renault-Basso as saying, - This is a permanent position, and there is no reason to believe that it will change in the coming years".

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