VTB Bank ready to partake in plan to exclude En+ from sanctions

MOSCOW, Aug 13 (PRIME) -- Russia’s second largest bank VTB is ready to partake in a plan coordinated with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) to exclude multi-industry holding En+ Group from the U.S. sanctions, a bank spokesperson told PRIME on Monday.

Earlier in the day, the Financial Times reported that En+ submitted a final edition of its plan to the U.S. Treasury Department, and that under the plan the stake of sanctioned Russian tycoon Oleg Deripaska in the company will fall to below 45% from the current 70% mainly through a transfer of a part of the stake to VTB.

“VTB Bank welcomes any decision that would allow for exclusion of En+ from the U.S. sanctions, and it is ready to partake in a plan coordinated with OFAC,” the spokesperson

Currently, VTB’s stake in En+ amounts to 9.6%.

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