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Expansion of U.S. sanctions against Russian individuals and entities will have no impact on VTB Bank (Armenia) customers

23.12.2015 18:36

Expansion of U.S. sanctions against Russian individuals and entities will have no impact on VTB Bank (Armenia) customers

YEREVAN, December 23. / ARKA /. The U.S decision to substantially expand its sanctions against individuals and entities in Russia, including sectoral sanctions, will have no impact on VTB Bank (Armenia) customers, the Yerevan-based bank said today in a statement.

The US Department of the Treasury issued on Tuesday an expanded list of legal entities and individuals in Russia hit by sanctions. Among them are persons and companies that the US believes are linked to entrepreneurs Gennady Timchenko, the Rotenberg brothers, the Kalashnikov small arms maker, the Izhevsk mechanical plant and also the subsidiaries of Sberbank, VTB and the Rostec state corporation.

According to VTB Bank (Armenia) statement, its inclusion in the list of entities subject to US sectoral sanctions, does not alter the validity and scope of sanctions applied to it earlier in September 2014.

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