Russian Agricultural Bank says does not expect negative impact from sanctions

by Reuters
Wednesday, 30 July 2014 08:32 GMT

MOSCOW, July 30 (Reuters) - Russian Agricultural Bank said on Wednesday it did not expect any negative impact on its business from the latest round of Western economic sanctions.

The United States imposed sanctions on Russian Agriculture Bank, along with Russia's second-largest lender VTB and its subsidiary the Bank of Moscow, on Tuesday over Moscow's perceived support for pro-Russian rebels fighting government forces in Ukraine.

The European Union also announced measures limiting access to capital for Russian banks.

"The bank is stable and does not expect a negative impact on its activity from the introduced sanctions," the bank said in a statement. The bank also said it could turn to the state, which controls Russian Agricultural Bank, for support if needed. (Reporting by Oksana Kobzeva and Alexander Winning, editing by Elizabeth Piper)

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