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BRICS bank intends to review fulfillment of its obligations to Russia

"Given Russia's special role as a founding country, the NDB intends to review the implementation of its obligations in accordance with the restrictions imposed on the international financial and capital markets," the bank’s Vice-President Vladimir Kazbekov said

SHANGHAI, May 30. /TASS/. Created by the BRICS countries, the New Development Bank (NDB) intends to study the fulfillment of its obligations to Russia, taking into account the restrictions on international capital markets, the bank’s Vice-President Vladimir Kazbekov said on Tuesday.

"Russia is important in decision-making processes. Given Russia's special role as a founding country, the NDB intends to review the implementation of its obligations in accordance with the restrictions imposed on the international financial and capital markets," he said, adding that Russia fulfills all its obligations to the bank.

The New Development made an official announcement in March 2022 suspending the bank's new transactions in Russia. At the same time, the bank alluded to the use of reasonable banking standards in all operations in accordance with the terms of its agreement.

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