July 21, 2014 / 5:42 PM / 3 years ago

Putin aide pledges help for Russia's sanctions-hit bank

SAMARA, Russia, July 21 (Reuters) - Russian state development bank Vnesheconombank (VEB), hit by fresh U.S. sanctions over Ukraine, will receive help from the state, President Vladimir Putin’s top economic aide said on Monday.

“It won’t be left without help, and VEB will meet all the obligations to the lenders,” Andrei Belousov told reporters, adding that the bank faced “certain difficulties” due to the sanctions.

The government had already planned to recapitalise VEB by 200 billion roubles ($5.7 billion) before the sanctions were introduced.

To help the bank to cope with the sanctions, the scale of recapitalisation could be increased or the central bank might may sell foreign currency to VEB, Belousov said.

The United States hit VEB and several other Kremlin-controlled companies with sanctions over Moscow’s role in the Ukraine crisis. VEB has said it was counting on support from the finance ministry and the central bank.

$1 = 35.2040 Russian Roubles Reporting by Darya Korsunskaya; Writing by Vladimir Soldatkin; Editing by Tom Heneghan

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