Moscow (AFP) – The Russian government has approved injecting 239 billion rubles ($6.6 billion, 5 billion euros) into two of the country’s largest, state-controlled banks that have been hit with Western sanctions.VTB Bank will get the lion’s share of the funds, 214 billion rubles, while Rosselkhozbank will get 25 billion, according to a decree signed last week and posted Monday on the government website.Both banks were hit by sanctions imposed over Moscow’s support for pro-Russian rebels in Ukraine that deny them most access to borrow on Western financial markets.The banks will issue new preferred shares that will be acquired by …read more
Source: Business Insider
