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Anti-Russian sanctions

Rossiya bank’s blacklisted shareholder says US “recognizes his services to Russia"

MOSCOW, March 21. /ITAR-TASS/. Russia’s bank Rossiya has expressed surprise over the newly-surfaced reports about likely sanctions against the bank following the news the bank had been put on the US sanctions list.

The bank’s spokesman told Itar-Tass the bank was operating “in strict compliance with the legal acts of the Russian Federation and the rules of international law.”

“It has conducted annual international auditing. The bank has international ratings,” the spokesman said. “A leading international company acts in the capacity of the international auditor. The bank will take all the necessary legal steps for the protection of the rights and legitimate interest of the bank and its clients.”

Sources at the bank said that neither the main shareholder, Yuri Kovalchyuk, mentioned in the list of sanctions, nor the members of his family had any material assets outside Russia.

Kovalchuk reportedly described “the ongoing events as recognition of his services to the Russian Federation.

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