September 30, 2019 / 9:48 AM / 21 days ago

Russia's finance ministry to deposit 200 bln rbls at VEB

MOSCOW, Sept 30 (Reuters) - Russia’s finance ministry will provide state development bank Vnesheconombank (VEB) with up to 200 billion roubles ($3 billion) in five-year funds, a government order published on Monday showed.

The order, signed by Prime Minister Dmitry Medvedev on Sept. 21, did not specify how VEB would use the funds.

A spokesman for Medvedev redirected a Reuters request to VEB. VEB and the finance ministry did not immediately reply to Reuters requests for a comment.

Russia’s Finance Minister Anton Siluanov said earlier in September that the ministry planned to provide VEB with funds to support a Gazprom-led liquefied natural gas (LNG) plant project, to be built in the Baltic Sea port of Ust-Luga.

VEB has also said that it planned to invest up to 111 billion roubles in the project, which, if implemented, would be Gazprom’s second LNG facility in Russia after the Sakhalin-2 project where it is a leading shareholder.

Royal Dutch Shell quit the Ust-Luga project earlier this year after Gazprom added a partner with links to an ally of President Vladimir Putin.. ($1 = 64.7260 roubles) (Reporting by Darya Korsunskaya Writing by Katya Golubkova; editing by Emelia Sithole-Matarise)

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