Moody’s: Direct effect on Russian bks from Kiev’s sanctions small

MOSCOW, Mar 20 (PRIME) -- A direct influence of the Ukrainian sanctions slapped on the units of Russian state-run banks on the parent banks will be limited, credit rating agency Moody’s said in a statement seen by PRIME on Monday.

Earlier in March, Ukrainian President Pyotr Poroshenko introduced sanctions against five Russian banks – Sberbank, VTB Ukraine, BM Bank, a unit of the Bank of Moscow, Prominvestbank, a unit of Vnesheconombank, and VS Bank of Sberbank – for a year, prohibiting them from disinvesting from the country, as well as barring Ukraine’s state-owned companies from depositing funds with the banks.

“A direct influence of the sanctions on Russian parent banks will be limited, since the share of Ukrainian assets and liabilities on their balances is insignificant,” Associate Vice President of Moody’s Lev Dorf said, as cited in the document.

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