VTB consider withdrawing from London Stock Exchange

Noam Stiekema

The Russian bank VTB consider withdrawing from London Stock Exchange and is negotiating to attract funding to one of the Asian markets. This was announced by the president of the bank Andrei Kostin. He explained that LSE has increased demands for trade that are “more stringent sanctions from the US”. For this reason, and the […]

Kostin VTB

Kostin VTBThe Russian bank VTB consider withdrawing from London Stock Exchange and is negotiating to attract funding to one of the Asian markets. This was announced by the president of the bank Andrei Kostin. He explained that LSE has increased demands for trade that are “more stringent sanctions from the US”. For this reason, and the bank plans to negotiate with representatives of the platform, and if no solution is found to the situation can lead to deletion of VTB trade in London. The negotiations are under way with the Asian market for the granting of a syndicated loan or subordinated, said Kostin.

Opportunities are either Japanese Stock Exchange or Shanghai Stock Exchange. The conditions of the Shanghai Stock Exchange might be interesting in terms of the limits set on the stock exchanges in London and New York, he explained.

We recall that the EU penalized five Russian banks, including VTB, for policies that lead Russia towards Ukraine.

VTB Gazprombank, Vnesheconombank, Sberbank and Roselhotsbank are limited to raising capital with maturity over 90 days of EU financial markets. Additional sanctions against banks and there from the US.

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