April 22, 2019 / 10:54 AM / a month ago

Russia may hand Evrofinance Mosnarbank over to Promsvyazbank

MOSCOW, April 22 (Reuters) - Russia may hand Evrofinance Mosnarbank over to Promsvyazbank if it finds no buyers for the sanctions-hit Russian-Venezuelan lender, Deputy Finance Minister Alexei Moiseev said on Monday.

State Russian banks VTB and Gazprombank said earlier they planned to transfer their stakes in the bank to Russia’s property management agency.

Moiseev said he hoped that the transfer of these stakes will be completed within one or two months.

The United States imposed sanctions on Evrofinance Mosnarbank for its dealings with Venezuelan state oil company Petroleos de Venezuela (PDVSA). (Reporting by Darya Korsunskaya Writing by Anastasia Teterevleva Editing by Louise Heavens)

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