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VTB to partly sell frozen assets to third party — senior executive

Dmitry Pyanov noted that VTB estimates the amount of assets frozen as a result of sanctions at the level of about $9.7 bln

MOSCOW, March 27. /TASS/. VTB expects to complete the process of selling a portion of its blocked assets to a third party, First Deputy CEO Dmitry Pyanov told reporters.

"We will highly likely complete and present to you the parameters of one of strategies called the ‘third party’ by the end of April. We are now finalizing this case. Depending on the period in April when we will end, we will make a contract and make settlements. This will be either the event of the second quarter, if it is late April, or probably even of the first [quarter], should it be in early April," the banker said. Several dozen billion rubles are at stake, he noted.

VTB estimates the amount of assets frozen as a result of sanctions at the level of about 900 bln rubles ($9.7 bln), Pyanov said this February. The credit institution is considering four strategies for their release, including selling a portion of frozen assets to another counterparty.

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