PRESS: Russia may allow more banks to work with strategic firms

MOSCOW, Apr 3 (PRIME) -- The Economic Development Ministry and the Finance Ministry have approved Russian oil major Rosneft’s request to expand a list of banks that can work with money of strategic firms, Kommersant business daily reported Monday citing sources in the government’s financial and economic block.

Specifically, Russian subsidiaries of foreign banks with a capital of less than 25 billion rubles could be included on the list.

The list of transactions will be limited; strategic firms will be allowed to open accounts at these banks, make deposits with an aim to make borrowings, carry out international settlements, and others.

Rosneft CEO Igor Sechin filed a relevant request to President Vladimir Putin in February, saying that a number of banks allowed to work with strategic companies decreased to 60 from 136 after capital requirements were raised in September.

(55.9606 rubles – U.S. $1)

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