Baku. Musa Ahmadov - APA-Economics. The US and EU financial sanctions will not seriously influence Bank VTB’s activity, said the State Oil Fund of Azerbaijan.
“Taking into account the Bank’s sustainability and credit worthiness, we think that the sanctions, as well as restrictions against Russian companies and banks, including VTB Bank will not negatively influence the bank’s obligations before its investors, ,depositors and creditors. The change can cause a short-term trembling. Therefore, as SOFAR’s investment strategy is long-term, these sanctions will not seriously influence”.
In 2013, the SOFAR bought $500 mln-share issued by VTB Bank and have 2.99% share in the bank’s share capital.
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