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Tag: VTB
What Strong Sanctions Against Russia Might Have Accomplished
The offices at VTB headquarters in Moscow’s burgeoning new financial district, which lays a short hop away from the Kremlin, were eerily quiet. No one was talking as every employee was gathered around the TV waiting for President Obama to announce the first series of sanctions against Russian and Crimean officials in response to Russia’s […]
Russia: Syria’s Banker and Arms Supplier
The West and Russia continue to bicker over who can attend the much vaulted Geneva II peace summits, and the death and destruction has not stopped in Syria. While it seems that, for the moment, Syria is adhering to dismantling its chemical weapons programs, thousands of civilians continue to be killed by Assad, through a […]
Public Officials Transfer Their Balances from Foreign Banks to the VTB Group
Repatriation of balances from accounts in foreign banks by public officials contributed to a record growth of deposits in “VTB 24”, according to the bank’s president, Mikhail Zadornov. By July individuals’ balances in “VTB 24” reached 982 bn roubles, an increase by 163.6 bn, or 20% since the beginning of the year. This is a […]
How Azerbaijan Is Like ‘The Godfather’
Few developments speak so well of how far Caucasian dictatorships have come since the grey days of the Soviet Union as the fabulously wealthy and incredibly investment-savvy 15-year-old male heir of Azerbaijan’s ruling family. When he was a mere 11 years old, Heydar Aliyev, the son of Azerbaijan’s President Ilham Aliyev, purchased $44 million in […]
Finance Ministry Warns of Potential “Privatization Hole” in Budget
Russia’s budget may be short 887 billion rubles from the privatization program of 2014-2016, according to a draft of the basic trends in the budget policy obtained by RIA Novosti. The document has not been officially reported. Sources at the Ministry of Finance indicate that the privatization plan forecast revenue for the budget of 230 […]