YEREVAN, September 6. /ARKA/. The US Treasury’s decision to blacklist Areximbank-Gazpormbank Group, the Armenian subsidiary of one of the largest Russian banks - Gazprombank - will not affect its operation, the Yerevan-based bank said today in a statement.

The US Treasury said on September 1 the new move aims at countering efforts by Russian entities to circumvent existing sanctions on individuals and companies. The Treasury stressed the need for Russia to abide by its commitments to the 2014 and 2015 Minsk agreements aimed at halting the fighting between Ukraine forces and pro-Moscow rebels in eastern Ukraine.

"Areximbank-Gazprombank Group executes all the orders of its individual and corporate clients, observing also all its obligations to depositors, investors and creditors,' the statement said.

The bank said that all settlements in Armenian drams and foreign currency, including transactions with bank cards of international payment systems VISA and MasterCard are carried out promptly and in full.

In 2014 July Washington had announced sanctions against Gazprombank. The measures targeted equity financing and debt financing due in more than 90 days for two Russian banks — Gazprombank, the banking arm of Russia’s largest energy company, and state-owned Vnesheconombank, or VEB — and prohibited new debt with more than 90 days maturity from U.S. institutions for OAO Novatek, Russia largest independent producer of natural gas, and Rosneft, the largest petroleum company.

Areximbank - Gazprombank Group was founded in 1998. The Bank is a 100 percent subsidiary of  Gazprombank..- 0