EBRD to close all Russian offices except in Moscow, St Petersburg

LONDON, Oct 3 (PRIME) -- The European Bank for Reconstruction and Development (EBRD) plans to close five offices in Russia in 2018 except the offices in Moscow and St. Petersburg, an official EBRD representative told PRIME on Tuesday.

The bank plans to close offices in the cities of Yekaterinburg, Krasnoyarsk, Rostov-On-Don, Vladivostok, and Samara. “Two offices – in Moscow and St. Petersburg – will be enough for the EBRD to conduct operations in Russia,” the representative said.

The bank decided in 2014 to freeze new investment in the wake of the U.S. sanctions. EBRD’s investment portfolio now stands at 3.7 billion euros.

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