Russia may place sovereign Eurobonds, without the help of foreign banks. On Friday, may 20, said the head of VTB Andrey Kostin, reports “Interfax”. He admitted that his credit organization can do the placement.
“Soon we will be able to more clearly say,” — he added.
At the end of March the Kostin has told about the readiness to engage in the placement of domestic Eurobonds. According to him, the VTB application for participation in the procedure submitted.
On March 23, the newspaper the Wall Street Journal announced that several European banks refused to participate in the procedure of placing of the Russian Eurobonds, not wanting to displease the U.S. authorities and the EU. According to the publication, the program decided not to engage such banks as BNP Paribas, Credit Suisse, Deutsche Bank, HSBC and UBS.
Sanctions against Russia not expressly prohibit foreign banks to participate in the organization of placing of the Russian Eurobonds. At the same time, bankers can obtain recommendations from officials, who fear that the proceeds from the sale of bonds can be used to assist companies that are subject to restrictions of the EU and the United States.
