PRESS: Intesa Sanpaolo studying ways to finance Nord Stream-2

MOSCOW, Oct 5 (PRIME) -- Intesa Sanpaolo is studying options to participate in financing of Russia’s gas pipeline project Nord Stream-2 in conditions of sanctions, Chairman of the board of directors of Banca Intesa’s local affiliate Antonio Fallico told newspaper Izvestiya in an interview published on Thursday.

In August, U.S. President Donald Trump signed a bill introducing additional sanctions against Russia among several other states. The bill prohibits companies to invest more than U.S. $1 million in a single payment or more than $5 million during the course of a year in construction of Russian export pipelines, as well as provision of goods, services, technologies and information support for the construction.

Fallico said: “We are now studying the new work conditions in the context of new American sanctions. We do not want to break international norms. We need to understand precisely what we can and cannot do in the context of new sanctions.”

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