Bank told APA-Economics that inclusion of Bank VTB Azerbaijan in the US sanction list does not change legal force of sanctions applied since September 2014.
“Bank VTB Azerbaijan operates preserving high liquidity and capital level. Naming of concrete organizations in the list of sanctions does not require Bank VTB Azerbaijan to pass any alternative decision. Because, the sanctions restrict involvement of funds to bank’s capital from the US for the period of over 30 days. The bank attracts main funds from the inside the country and use support of Bank VTB. Bank fulfils obligations before the customers and announces that prolongation of restrictions by US will not affect neither individuals nor legal entities of the bank”, the bank said.
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