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VTB Bank

February 14, 2023

"VTB" redirects here. For other uses, see VTB (disambiguation).

VTB Bank (Russian: ПАО Банк ВТБ, lit. 'PJSC Bank VTB'; formerly known as Vneshtorgbank, Внешторгбанк, lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia;[3][4] its legal address is registered in St. Petersburg;[3] as of 2022 company's capital stock was mostly owned by three Russian agencies.[5]

PJSC VTB Bank
TypePublic (ПAO)
MCX: VTBR
LSE: VTBR
IndustryBanking
Founded1990; 33 years ago (1990)
HeadquartersMoscow, Russia
Area served
Russia, CIS, Europe, Asia, Africa, U.S.
Key people
Andrey L. Kostin
(President and Chairman of the Management Board)
Anton Siluanov
(Chairman of the Supervisory Council)
ServicesFinancial services
Revenue1,185,800,000,000 Russian ruble (2017) 
$4.45 billion[1] (2021)
Total assets$283 billion[1] (2021)
Total equity$30.2 billion[1] (2021)
OwnerFederal Agency for State Property Management (60.9%)[2]
WebsiteVTB.com
Old logo

VTB Bank and its subsidiaries form a leading Russian financial group – VTB Group uniting VTB banks located in different countries and offering a wide range of corporate banking services and products in Russia, CIS, Europe, Asia, Africa, and the U.S.[6][7][8]

VTB was ranked 446th on the FT Global 500 2012,[9] The Financial Times’ annual snapshot of the world's largest companies. It climbed to 210th in the ranking of the 500 largest companies in Europe, the FT Europe 500 2014,[10] and to 127th in the FT Emerging 500 2014, the list of the 500 largest companies on the world's emerging markets.

History

VTB Bank was founded as Vneshtorgbank in 1990 with the support of the Russian State Bank and the Ministry of Finance. It was set up as a limited liability company with the aim of servicing Russia's foreign trade operations and promoting Russia's integration into the global economy.[11]

In 2004, the bank acquired a majority stake of 85.8% in Guta Bank, which was reorganised into a retail bank, Vneshtorgbank 24 (VTB24).[12] The bank also acquired the Armenian Armsberbank, which was later renamed VTB Armenia.[13] In 2005, the bank acquired 75% plus three shares of the Promstroybank (PSB), which was reorganised as Bank VTB North-West and later became VTB's North-Western Regional Centre,[14] and bought the Ukrainian bank Mriya, which was later merged with VTB Bank (Ukraine).[citation needed]

In 2007, the bank set up a subsidiary in Angola known as VTB África.[15] The bank also took over Slavneftebank in Belarus and later renamed it VTB Belarus.[16] In June, VTB became the first Russian bank to offer an initial public offering (IPO), raising $8 billion in what became the largest international banking IPO at the time.[17]

In 2008, the bank acquired a 51% stake in AF Bank in Azerbaijan from AF Holding International, later renaming it VTB Azerbaijan.[18] In 2010, the bank's board approved the phased acquisition of TransCreditBank from Russian Railways.[citation needed] In 2013, VTB carried out a secondary public offering (SPO) which raised 102.5 billion rubles ($3.3 billion) and diluted the Russian government's share in VTB from 75.5 percent to 60.9 percent.[19]

In 2011, VTB invested more than $191 million for shares in the Isle of Man company DST Investment 3[20] which was roughly than half of the funds in Yuri Milner's DST Global.[21] This led to Milner's large stake in Twitter.[21][20] Kanton had almost no investment in Twitter.[21] DST Investment 3 also issued shares to Alisher Usmanov's Kanton that were used to support the Kremlin's investment in Facebook.[21]

On 7 May 2014, VTB transferred most of its DST Investment 3 to Kanton.[21][22]

In 2014 prior to Russo-Ukrainian War, VTB Bank was one of the biggest banks of Ukraine.[23]

Since 2014, the bank has been subject to political sanctions (see separate section below).

In August 2018, it was announced that VTB Bank would acquire a 75% stake in Vozrozhdenie Bank after its previous owners oversaw a "major banking collapse".[24]

In November 2018, the National Bank of Ukraine declared the Ukrainian subsidiary of VTB Bank insolvent due to its declining liquidity and worsening financial position.[25]

In December 2018, it was announced that VTB Bank would be acquiring controlling stakes in Sarovbusinessbank (81.1%) and Zapsibcombank (71.8%).[26]

Mergers and acquisitions

VTB Bank took over 15 banks between 2002 and February 2019:

  • Guta Bank (2004), later renamed VTB24
  • Bank of Moscow
  • TransCreditBank
  • Armsberbank in Armenia (2004), later renamed VTB Armenia[27]
  • Promstroybank (2005), renamed Bank VTB North-West and later reorganised as VTB's North-Western Regional Centre[28]
  • Eurobank in France (2005), later renamed VTB France[29]
  • Evrofinance Mosnarbank in Great Britain (2005), later renamed VTB Europe Plc, and then VTB Capital Plc
  • Ost-West Handelsbank AG in Germany (2005), later renamed VTB Germany[30]
  • United Georgian Bank (2005), later renamed VTB Georgia[31]
  • Mriya in Ukraine (2006), later merged with VTB Ukraine[32]
  • Slavneftebank in Belarus (2007), later renamed VTB Belarus[33]
  • AF Bank in Azerbaijan from AF Holding International (2008), later VTB Azerbaijan[34]
  • Vozrozhdenie (2018)
  • Zapsibkombank (2018)
  • SarovBusinessBank (2018).

VTB24, Russian Post and Post Bank

On 24 July 2015, an agreement, which as approved by Dmitry Medvedev, was signed between the bank president, Director of Russian Post, Dmitry Strashnov, and Minister of Communications and Mass Media, Nikolai Nikiforov, on the Russian Post purchase of 50 percent minus 1 share of Leto Bank (Summer Bank) from VTB24, with the purpose of reorganising it into the National Post Bank. The remaining 50 percent plus one share will be owned by VTB24 of VTB Bank. VTB CEO Kostin suggested appointing Dmitry Rudenko, the current head of Leto Bank, as the head of Post Bank (Russia).[35]

On 28 January 2016, sets of documents were signed between VTB24 and Russian Post on establishing the Post Bank. Russian Post purchased 50 percent minus one share of the newly established Post Bank through its 100 percent subsidiary. The remaining 50 percent plus one share is owned by VTB24 of VTB Bank. Dmitry Rudenko, the head of Leto Bank of VTB24, became the head of Post Bank (Russia).[35][36][37][38]

On 28 December 2017, VTB24 sells two shares to Dmitry Rudenko, the Chairman of the Board of Post Bank. VTB 24 and Russia Post have equal shares in Post Bank: each have 50 percent minus one share.[39] VTB24 has 1,062 branches.[40]

On 1 January 2018, VTB acquired VTB24. The integrated network has 1,350 branches.[41][42]

Corporate affairs

Shareholders

In February 2011, the government floated an additional 10% minus two shares of VTB Bank. The private investors, who paid a total of 95.7 billion rubles ($3.1 billion) for the assets, included the investment funds Generali, TPG Capital, China Investment Corp, a sovereign wealth fund responsible for managing China's foreign exchange reserves, and companies affiliated with businessman Suleyman Kerimov.[43]

In May 2013 VTB completed a secondary public offering (SPO), issuing 2.5 trillion new additional shares by public subscription. All shares were placed on Moscow's primary stock exchange. The government did not participate in the SPO, so its stake in the bank decreased to 60.9% after the subscription closed. The bank raised 102.5 billion rubles worth of additional capital. Three sovereign wealth funds, Norway's Norges Bank Investment Management, Qatar Holding LLC and the State Oil Fund of the Republic of Azerbaijan (SOFAZ) and commercial bank China Construction Bank became the largest investors during the SPO, after purchasing more than half of the additional shares issued.[19]

In 2017 the main shareholder of VTB is the Russian government,[21] which owned 60.9% of the lender through its Federal Agency for State Property Management. The remaining shares are split between holders of its Global Depository Receipts and minority shareholders, both individuals and companies.

2020 and onward

As of February 2022 the bank reported that its stock shares are distributed in the following way:[5]

Executive Management

As of April 2022, its Management Committee (referred as VTB Bank Management Board or VTB MB) includes:

  • Andrey Kostin - Chief executive of the Bank (since 10 June 2002), President and Chairman of VTB Bank Management Board, Member of the Supervisory Council,
  • Andrey Puchkov (First Deputy President and Chairman of VTB MB)
  • Denis Bortnikov (Deputy President and Chairman of VTB MB)
  • Olga Dergunova (Deputy President and Chairman of VTB MB)
  • Valery Lukyanenko (Deputy President and Chairman of VTB MB)
  • Anatoly Pechatnikov (Deputy President and Chairman of VTB MB)
  • Maxim Kondratenko (Member of VTB MB)
  • Erkin Norov (Member of VTB MB)
  • Dmitriy Pianov (Member of VTB MB)

Supervisory council

As of April 2022, VTB's Supervisory Council consists of Anton Siluanov (Chairman of the Supervisory Council), Matthias Warnig (member of the Supervisory Council),[8] Sergey Dubinin (member of supervisory council), Mikhail Zadornov (Member of Supervisory Council), Andrey Kostin (President and Chairman of VTB Bank Management Board), Shahmar Movsumov (Independent member of supervisory council), Igor Repin (Independent member of Supervisory Council), Alexander Sokolov (Member of Supervisory Council), Vladimir Chistyukhin (member of supervisory council), Mukhadin Eskindarov (Member of Supervisory Council). [44]

Financial data

Consolidated Statement of Financial Position as at 31 December 2021: net interest income – 646,3 RUB billion, net fee and commission income – 90,0 RUB billion, operating income before provisions – 822,7 RUB billion, staff costs and administrative expenses – -308,8 RUB billion, net profit – 327,4 RUB billion.[45]

Major subsidiaries

VTB's major subsidiaries as of April 2022 were:

Company's name Share
Insurance company VTB Insurance 100%
VTB Capital (New-York, US etc.), sold in September 2018[46] 100%
VTB-Leasing 100%
VTB Dolgovoi centre 100%
VTB Pension administrator 100%
VTB Factoring 100%
VTB Registrar 100%
Hals-Development 96.44%
VTB Arena 75.00%
VTB Real Estate 100%
VTB Bank (Austria) AG (incl. VTB Bank (Deutschland) AG, VTB Bank (France) SA) 100%
VTB Bank (Armenia) 100%
VTB Bank (Belarus) 100%
VTB Bank (Kazakhstan) 100%
VTB Bank (Azerbaijan) 51%
Banco VTB Africa, SA (Angola) 50.1%
National Post Bank (ex. Leto Bank) 50% minus 1
Velobike (bike rental service) 100%
VTB Specialized Depository, CJSC 100%

Sports sponsorships

 
The headquarters of VTB Armenia in Yerevan

VTB is one of the sponsors of all Dinamo Moscow sport clubs.[48]

Since 2017, VTB Bank has been the title partner of the Russian Formula 1 stage in Sochi – Formula 1 VTB Russian Grand Prix.

Since 2016, VTB has been the tennis tournament VTB Kremlin Cup.

VTB has also been the title sponsor of the VTB United League since 2008. Since 2005, VTB Bank has been the general sponsor of the Kamaz Master team, a team which has been active in re-known rally raid such as Dakar Rally, Silk Way Rally and Africa Eco Race.[49]

Since 2013, VTB Group has been supporting the Velobike, a bicycle-sharing system in Moscow, a project by the Department for Transport and Development of Road Infrastructure of the city. In 2018, the number of trips exceeded 3 million.

Sanctions

See also: Russian financial crisis (2014–2016)

On 29 July 2014, the Office of Foreign Assets Control (OFAC) published that the Bank of Moscow and VTB Bank OJSC, the second largest bank in Russia, has been added to the Sectoral Sanctions Identifications List.

On 31 July 2014, VTB Bank and its subsidiaries was added to the European Union sanctions list due to its role in the Crimean Crisis that same year.[50]

On 6 August 2014, VTB was added to the Canadian sanctions list due to its role in the Russo-Ukrainian War and the downing of Malaysia Airlines Flight 17.[51]

On 13 August 2014, United States clarifies entities under sectoral sanctions. United States increases its sectoral sanctions on VTB Bank together with its subsidiaries (“the VTB Group”) and the Bank of Moscow through its parent bank, VTB Bank OAO, and other entities that VTB has 50 percent or greater ownership either individually or in the aggregate, either directly or indirectly. Also, US persons cannot use a third party intermediary and they must use caution during "transactions with a non-blocked entity in which one or more blocked persons has a significant ownership interest that is less than 50 percent or which one or more blocked persons may control by means other than a majority ownership interest."[52]

On 1 September 2014, VTB was added to the Australian autonomous sanctions list for Russia, Crimea, and Sevastopol.[53][54][55]

On 12 September 2014, the United States issues a consolidated listing of directives associated with Executive Order 13662 sanctions during the crisis in Ukraine. For the Russian financial sector, Directive 1 was amended to increase the financial sanctions on the Russian financial sector for "all transactions in, provision of financing for, and other dealings" in new equity or new debt issued on or after 12 September 2014 to longer than 30 days maturity. New equity or new debt issued from 29 July 2018 until 12 September 2018 was sanctioned if longer than 90 days maturity.[56][57][58][59]

In 2015 the banks' chief Executive Andrei Kostin predicted loses for the bank in the years to come because of the plunging ruble accelerated by western sanctions.[60]

On 15 March 2017, Ukraine imposed sanctions against VTB Bank and subsidiaries because of the ongoing Russian interference in Ukraine.[61][62]

On 28 November 2017, the United States increases the Executive Order 13662 sanctions to the Russian financial sector. For the Russian financial sector, Directive 1 was amended to increase the financial sanctions on the Russian financial sector for "all transactions in, provision of financing for, and other dealings" in new equity or new debt issued on or after 28 November 2017 to longer than 14 days maturity. New equity or new debt issued from 12 September 2014 until 28 November 2017 was sanctioned if longer than 30 days maturity.[63]

On 27 November 2018, the National Bank of Ukraine declares the Ukrainian subsidiary of VTB Bank insolvent due to its declining liquidity and worsening financial position.[64]

On 25 June 2020 European Court of Justice rejected VTB and Sberbank bank's 2014 lawsuit against EU sectoral sanctions citing that regulators were within their aims of "imposing a cost on the Russian government" because of the latter's actions in Ukraine.[65][66][67][68]: 46  The Court specified that intentionally ambigous language versions of the regulation (that the bank argued were wrongly applied) doesn't prevent the Court to from choosing one that fits best its general purposes.[65]

In February 2022, amid the Russo-Ukrainian crisis, US and EU officials were reportedly finalizing an extensive package of sanctions on VTB bank and other related Russian entities.[69] On 24 February, after Russia launched a full-scale invasion of Ukraine, US president Joe Biden and British prime minister Boris Johnson announced new sanctions against VTB bank along with other Russian individuals and companies.[70]

See also

References

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  6. ^ "Структура группы ВТБ". www.vtb.ru. Retrieved 18 February 2022.
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  20. ^ a b Swaine, Jon; Harding, Luke (5 November 2017). "Guardian Paradise Papers: Russia funded Facebook and Twitter investments through Kushner investor, Institutions with close links to Kremlin financed stakes through investor in Trump son-in-law's venture, leaked files reveal". The Guardian. Manchester, England. Retrieved 10 February 2018.
  21. ^ a b c d e f Drucker, Jesse (5 November 2017). "Kremlin Cash Behind Billionaire's Twitter and Facebook Investments: Leaked files show that a state-controlled bank in Moscow helped to fuel Yuri Milner's ascent in Silicon Valley, where the Russia investigation has put tech companies under scrutiny". The New York Times. Retrieved 7 February 2018.
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  26. ^ "ВТБ покупает "Саровбизнесбанк" и "Запсибкомбанк"". Rambler.ru (in Russian). 26 December 2018. Retrieved 16 April 2019.
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  35. ^ a b "Почтовый банк начнет работу с 2016 года" [Post Bank will start work beginning 2016]. lenta.ru (in Russian). 7 September 2015. Retrieved 12 February 2018.
  36. ^ "В России создан "Почта Банк": "Почта России" и ВТБ24 подписали пакет документов о создании "Почта Банка". В церемонии приняли участие генеральный директор "Почты России" Дмитрий Страшнов и президент – председатель правления ВТБ24 Михаил Задорнов" ["Post Bank" was created in Russia: "Post of Russia" and VTB24 signed a package of documents on the establishment of "Post Bank." The ceremony was attended by General Director of Post of Russia Dmitry Strashnov and President and Chairman of the Board of VTB24 Mikhail Zadornov.]. Post Bank website (in Russian). 28 January 2016. Retrieved 12 February 2018.
  37. ^ "В России создан Почта Банк" [In Russia established Post Bank]. VTB24 website (in Russian). 27 January 2016. Retrieved 12 February 2018.
  38. ^ "Banks: Company Overview of PJSC Post Bank". Bloomberg website. Retrieved 12 February 2018.
  39. ^ "ВТБ и "Почта России" стали паритетными владельцами Почта-банка" [VTB and "Russia Post" became parity owners of Post Bank]. RNS.online (in Russian). 29 December 2017. Retrieved 12 February 2018.
  40. ^ "VTB 24: About". VTB 24 website.
  41. ^ "Banks: Company Overview of Bank VTB 24 Public Joint-Stock Company". Bloomberg. Retrieved 12 February 2018.
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  43. ^ , The Telegraph
  44. ^ "Supervisory council". VTB. Retrieved 14 February 2019.
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  47. ^ "Office of Foreign Assets Control (OFAC): Sanctions List Search". Office of Foreign Assets Control (OFAC) website. Retrieved 12 February 2018.
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  49. ^ "КАМАЗ-Мастер: ралли Париж-Дакар, Шелковый путь - новости раллийной команды КАМАЗ-Мастер на официальном сайте ВТБ России".
  50. ^ "COUNCIL REGULATION (EU) No 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine". Council of the European Union. eur-lex.europa.eu. 31 July 2014. Retrieved 10 February 2018.
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  52. ^ "Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property Are Blocked" (PDF). United States Department of Treasury. 13 August 2014. Retrieved 22 March 2018.
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External links

 
Wikimedia Commons has media related to VTB Bank.
  • VTB corporate site
  • Russian website
  • VTB Armenia
  • List of Georgian Banks

February 14, 2023
bank, redirects, here, other, uses, disambiguation, this, article, uses, bare, urls, which, uninformative, vulnerable, link, please, consider, converting, them, full, citations, ensure, article, remains, verifiable, maintains, consistent, citation, style, seve. VTB redirects here For other uses see VTB disambiguation This article uses bare URLs which are uninformative and vulnerable to link rot Please consider converting them to full citations to ensure the article remains verifiable and maintains a consistent citation style Several templates and tools are available to assist in formatting such as Reflinks documentation reFill documentation and Citation bot documentation August 2022 Learn how and when to remove this template message VTB Bank Russian PAO Bank VTB lit PJSC Bank VTB formerly known as Vneshtorgbank Vneshtorgbank lit International Trade Bank is a Russian majority state owned bank headquartered in various federal districts of Russia 3 4 its legal address is registered in St Petersburg 3 as of 2022 company s capital stock was mostly owned by three Russian agencies 5 PJSC VTB BankTypePublic PAO Traded asMCX VTBRLSE VTBRIndustryBankingFounded1990 33 years ago 1990 HeadquartersMoscow RussiaArea servedRussia CIS Europe Asia Africa U S Key peopleAndrey L Kostin President and Chairman of the Management Board Anton Siluanov Chairman of the Supervisory Council ServicesFinancial servicesRevenue1 185 800 000 000 Russian ruble 2017 Net income 4 45 billion 1 2021 Total assets 283 billion 1 2021 Total equity 30 2 billion 1 2021 OwnerFederal Agency for State Property Management 60 9 2 WebsiteVTB comOld logo VTB Bank and its subsidiaries form a leading Russian financial group VTB Group uniting VTB banks located in different countries and offering a wide range of corporate banking services and products in Russia CIS Europe Asia Africa and the U S 6 7 8 VTB was ranked 446th on the FT Global 500 2012 9 The Financial Times annual snapshot of the world s largest companies It climbed to 210th in the ranking of the 500 largest companies in Europe the FT Europe 500 2014 10 and to 127th in the FT Emerging 500 2014 the list of the 500 largest companies on the world s emerging markets Contents 1 History 1 1 Mergers and acquisitions 1 1 1 VTB24 Russian Post and Post Bank 2 Corporate affairs 2 1 Shareholders 2 1 1 2020 and onward 2 2 Executive Management 2 3 Supervisory council 3 Financial data 4 Major subsidiaries 5 Sports sponsorships 6 Sanctions 7 See also 8 References 9 External linksHistoryVTB Bank was founded as Vneshtorgbank in 1990 with the support of the Russian State Bank and the Ministry of Finance It was set up as a limited liability company with the aim of servicing Russia s foreign trade operations and promoting Russia s integration into the global economy 11 In 2004 the bank acquired a majority stake of 85 8 in Guta Bank which was reorganised into a retail bank Vneshtorgbank 24 VTB24 12 The bank also acquired the Armenian Armsberbank which was later renamed VTB Armenia 13 In 2005 the bank acquired 75 plus three shares of the Promstroybank PSB which was reorganised as Bank VTB North West and later became VTB s North Western Regional Centre 14 and bought the Ukrainian bank Mriya which was later merged with VTB Bank Ukraine citation needed In 2007 the bank set up a subsidiary in Angola known as VTB Africa 15 The bank also took over Slavneftebank in Belarus and later renamed it VTB Belarus 16 In June VTB became the first Russian bank to offer an initial public offering IPO raising 8 billion in what became the largest international banking IPO at the time 17 In 2008 the bank acquired a 51 stake in AF Bank in Azerbaijan from AF Holding International later renaming it VTB Azerbaijan 18 In 2010 the bank s board approved the phased acquisition of TransCreditBank from Russian Railways citation needed In 2013 VTB carried out a secondary public offering SPO which raised 102 5 billion rubles 3 3 billion and diluted the Russian government s share in VTB from 75 5 percent to 60 9 percent 19 In 2011 VTB invested more than 191 million for shares in the Isle of Man company DST Investment 3 20 which was roughly than half of the funds in Yuri Milner s DST Global 21 This led to Milner s large stake in Twitter 21 20 Kanton had almost no investment in Twitter 21 DST Investment 3 also issued shares to Alisher Usmanov s Kanton that were used to support the Kremlin s investment in Facebook 21 On 7 May 2014 VTB transferred most of its DST Investment 3 to Kanton 21 22 In 2014 prior to Russo Ukrainian War VTB Bank was one of the biggest banks of Ukraine 23 Since 2014 the bank has been subject to political sanctions see separate section below In August 2018 it was announced that VTB Bank would acquire a 75 stake in Vozrozhdenie Bank after its previous owners oversaw a major banking collapse 24 In November 2018 the National Bank of Ukraine declared the Ukrainian subsidiary of VTB Bank insolvent due to its declining liquidity and worsening financial position 25 In December 2018 it was announced that VTB Bank would be acquiring controlling stakes in Sarovbusinessbank 81 1 and Zapsibcombank 71 8 26 Mergers and acquisitions VTB Bank took over 15 banks between 2002 and February 2019 Guta Bank 2004 later renamed VTB24 Bank of Moscow TransCreditBank Armsberbank in Armenia 2004 later renamed VTB Armenia 27 Promstroybank 2005 renamed Bank VTB North West and later reorganised as VTB s North Western Regional Centre 28 Eurobank in France 2005 later renamed VTB France 29 Evrofinance Mosnarbank in Great Britain 2005 later renamed VTB Europe Plc and then VTB Capital Plc Ost West Handelsbank AG in Germany 2005 later renamed VTB Germany 30 United Georgian Bank 2005 later renamed VTB Georgia 31 Mriya in Ukraine 2006 later merged with VTB Ukraine 32 Slavneftebank in Belarus 2007 later renamed VTB Belarus 33 AF Bank in Azerbaijan from AF Holding International 2008 later VTB Azerbaijan 34 Vozrozhdenie 2018 Zapsibkombank 2018 SarovBusinessBank 2018 VTB24 Russian Post and Post Bank On 24 July 2015 an agreement which as approved by Dmitry Medvedev was signed between the bank president Director of Russian Post Dmitry Strashnov and Minister of Communications and Mass Media Nikolai Nikiforov on the Russian Post purchase of 50 percent minus 1 share of Leto Bank Summer Bank from VTB24 with the purpose of reorganising it into the National Post Bank The remaining 50 percent plus one share will be owned by VTB24 of VTB Bank VTB CEO Kostin suggested appointing Dmitry Rudenko the current head of Leto Bank as the head of Post Bank Russia 35 On 28 January 2016 sets of documents were signed between VTB24 and Russian Post on establishing the Post Bank Russian Post purchased 50 percent minus one share of the newly established Post Bank through its 100 percent subsidiary The remaining 50 percent plus one share is owned by VTB24 of VTB Bank Dmitry Rudenko the head of Leto Bank of VTB24 became the head of Post Bank Russia 35 36 37 38 On 28 December 2017 VTB24 sells two shares to Dmitry Rudenko the Chairman of the Board of Post Bank VTB 24 and Russia Post have equal shares in Post Bank each have 50 percent minus one share 39 VTB24 has 1 062 branches 40 On 1 January 2018 VTB acquired VTB24 The integrated network has 1 350 branches 41 42 Corporate affairsShareholders In February 2011 the government floated an additional 10 minus two shares of VTB Bank The private investors who paid a total of 95 7 billion rubles 3 1 billion for the assets included the investment funds Generali TPG Capital China Investment Corp a sovereign wealth fund responsible for managing China s foreign exchange reserves and companies affiliated with businessman Suleyman Kerimov 43 In May 2013 VTB completed a secondary public offering SPO issuing 2 5 trillion new additional shares by public subscription All shares were placed on Moscow s primary stock exchange The government did not participate in the SPO so its stake in the bank decreased to 60 9 after the subscription closed The bank raised 102 5 billion rubles worth of additional capital Three sovereign wealth funds Norway s Norges Bank Investment Management Qatar Holding LLC and the State Oil Fund of the Republic of Azerbaijan SOFAZ and commercial bank China Construction Bank became the largest investors during the SPO after purchasing more than half of the additional shares issued 19 In 2017 the main shareholder of VTB is the Russian government 21 which owned 60 9 of the lender through its Federal Agency for State Property Management The remaining shares are split between holders of its Global Depository Receipts and minority shareholders both individuals and companies 2020 and onward As of February 2022 the bank reported that its stock shares are distributed in the following way 5 12 13 of capital shares Federal Agency for State Property Management Russia 32 88 of capital shares Ministry of Finance Russia 47 22 of capital shares Deposit Insurance Agency of RussiaExecutive Management As of April 2022 its Management Committee referred as VTB Bank Management Board or VTB MB includes Andrey Kostin Chief executive of the Bank since 10 June 2002 President and Chairman of VTB Bank Management Board Member of the Supervisory Council Andrey Puchkov First Deputy President and Chairman of VTB MB Denis Bortnikov Deputy President and Chairman of VTB MB Olga Dergunova Deputy President and Chairman of VTB MB Valery Lukyanenko Deputy President and Chairman of VTB MB Anatoly Pechatnikov Deputy President and Chairman of VTB MB Maxim Kondratenko Member of VTB MB Erkin Norov Member of VTB MB Dmitriy Pianov Member of VTB MB Supervisory council As of April 2022 update VTB s Supervisory Council consists of Anton Siluanov Chairman of the Supervisory Council Matthias Warnig member of the Supervisory Council 8 Sergey Dubinin member of supervisory council Mikhail Zadornov Member of Supervisory Council Andrey Kostin President and Chairman of VTB Bank Management Board Shahmar Movsumov Independent member of supervisory council Igor Repin Independent member of Supervisory Council Alexander Sokolov Member of Supervisory Council Vladimir Chistyukhin member of supervisory council Mukhadin Eskindarov Member of Supervisory Council 44 Financial dataConsolidated Statement of Financial Position as at 31 December 2021 net interest income 646 3 RUB billion net fee and commission income 90 0 RUB billion operating income before provisions 822 7 RUB billion staff costs and administrative expenses 308 8 RUB billion net profit 327 4 RUB billion 45 Major subsidiaries VTB Tower in Moscow VTB s major subsidiaries as of April 2022 were Company s name ShareInsurance company VTB Insurance 100 VTB Capital New York US etc sold in September 2018 46 100 VTB Leasing 100 VTB Dolgovoi centre 100 VTB Pension administrator 100 VTB Factoring 100 VTB Registrar 100 Hals Development 96 44 VTB Arena 75 00 VTB Real Estate 100 VTB Bank Austria AG incl VTB Bank Deutschland AG VTB Bank France SA 100 VTB Bank Armenia 100 VTB Bank Belarus 100 VTB Bank Kazakhstan 100 VTB Bank Azerbaijan 51 Banco VTB Africa SA Angola 50 1 National Post Bank ex Leto Bank 50 minus 1Velobike bike rental service 100 VTB Specialized Depository CJSC 100 As of 12 February 2018 the United States Department of Treasury s Office of Foreign Assets Control OFAC Sectoral Sanctions Identifications list for VTB and its subsidiaries 47 Bank VTB OAO 29 Bolshaya Morskaya str Entity UKRAINE EO13662 Non SDN 100 Bank VTB Open Joint stock Company 29 Bolshaya Morskaya str Entity UKRAINE EO13662 Non SDN 100 JSC VTB Bank 29 Bolshaya Morskaya str Entity UKRAINE EO13662 Non SDN 100 VTB Bank OAO 29 Bolshaya Morskaya str Entity UKRAINE EO13662 Non SDN 100 VTB Bank OPEN JOINT STOCK COMPANY 29 Bolshaya Morskaya str Entity UKRAINE EO13662 Non SDN 100 Bank VTB 24 Zakrytoe Aktsionernoe Obshchestvo d 35 ul Myasnitskaya Entity UKRAINE EO13662 Non SDN 100 Bank VTB 24 Closed Joint Stock Company d 35 ul Myasnitskaya Entity UKRAINE EO13662 Non SDN 100 Bank VTB 24 Public Joint Stock Company d 35 ul Myasnitskaya Entity UKRAINE EO13662 Non SDN 100 Bank VTB 24 Publichnoe Aktsionernoe Obshchestvo d 35 ul Myasnitskaya Entity UKRAINE EO13662 Non SDN 100 VTB 24 JSC d 35 ul Myasnitskaya Entity UKRAINE EO13662 Non SDN 100 VTB 24 PAO d 35 ul Myasnitskaya Entity UKRAINE EO13662 Non SDN 100 PJSC VTB Bank Kiev 8 26 Shevchenka boulevard Pushkinska street Entity UKRAINE EO13662 Non SDN 100 Public Joint Stock Company VTB Bank Ukraine 8 26 Shevchenka boulevard Pushkinska street Entity UKRAINE EO13662 Non SDN 100 Publichne Aktsionerne Tovarystvo VTB Bank 8 26 Shevchenka boulevard Pushkinska street Entity UKRAINE EO13662 Non SDN 100 VTB Bank PJSC 8 26 Shevchenka boulevard Pushkinska street Entity UKRAINE EO13662 Non SDN 100 VTB Bank PJSC Ukraine 8 26 Shevchenka boulevard Pushkinska street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Public Joint Stock Company 8 26 Shevchenka boulevard Pushkinska street Entity UKRAINE EO13662 Non SDN 100 CJSC VTB Bank Belarus 14 Moskovskaya Street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Belarus 14 Moskovskaya Street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Belarus Closed Joint Stock Company 14 Moskovskaya Street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Belarus CJSC 14 Moskovskaya Street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Armenia CJSC 46 Ul Nalbandyan Entity UKRAINE EO13662 Non SDN 100 VTB Bank Armenia CJSC 46 Ul Nalbandyan Entity UKRAINE EO13662 Non SDN 100 Bank VTB Kazakhstan JSC 28 v Timiryazeva str Entity UKRAINE EO13662 Non SDN 100 Joint Stock Company VTB Bank Kazakhstan 28 v Timiryazeva str Entity UKRAINE EO13662 Non SDN 100 Subsidiary JSC Bank VTB Kazakhstan 28 v Timiryazeva str Entity UKRAINE EO13662 Non SDN 100 Bank VTB Azerbaijan OJSC 38 Khatai ave Nasimi district Entity UKRAINE EO13662 Non SDN 100 JSC VTB Bank Azerbaijan 38 Khatai ave Nasimi district Entity UKRAINE EO13662 Non SDN 100 VTB Bank Azerbaijan OJSC 38 Khatai ave Nasimi district Entity UKRAINE EO13662 Non SDN 100 BANCO VTB Africa S A 22 Rua da Missao Entity UKRAINE EO13662 Non SDN 100 VTB Africa 22 Rua da Missao Entity UKRAINE EO13662 Non SDN 100 JSC VTB Bank Georgia 14 G Chanturia Street Entity UKRAINE EO13662 Non SDN 100 JSC VTB Bank Georgia 14 G Chanturia Street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Georgia JSC 14 G Chanturia Street Entity UKRAINE EO13662 Non SDN 100 VTB Bank Austria AG Parking 6 PO Box 560 Entity UKRAINE EO13662 Non SDN 100 VTB Bank JSC Belgrade 2 Balkanska street Entity UKRAINE EO13662 Non SDN 100 VTB Banka AD Beograd 2 Balkanska street Entity UKRAINE EO13662 Non SDN 100 Holding VTB Capital CJSC 12 Presnenskaya nab Entity UKRAINE EO13662 Non SDN 100 KHolding VTB Kapital Zakrytoe Aktsionernoe Obshchestvo 12 Presnenskaya nab Entity UKRAINE EO13662 Non SDN 100 VTB Capital Holding CJSC 12 Presnenskaya nab Entity UKRAINE EO13662 Non SDN 100 VTB Capital Holding ZAO 12 Presnenskaya nab Entity UKRAINE EO13662 Non SDN 100 Obshchestvo s Ogranichennoi Otvetstvennostyu VTB Pensionny Administrator d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB Pension Administrator Limited d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB Pension Administrator Ltd d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB Pensionny Administrator OOO d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB DC Debt Center Ltd Room 47 office XIV 8 Brestskaya Street Entity UKRAINE EO13662 Non SDN 100 Insurance Company VTB Insurance Limited str 1 8 Chistoprudnyy bulvar Entity UKRAINE EO13662 Non SDN 100 Insurance Company VTB Insurance Ltd str 1 8 Chistoprudnyy bulvar Entity UKRAINE EO13662 Non SDN 100 VTB Insurance Limited str 1 8 Chistoprudnyy bulvar Entity UKRAINE EO13662 Non SDN 100 VTB Strakhovanie SK OOO str 1 8 Chistoprudnyy bulvar Entity UKRAINE EO13662 Non SDN 100 VTB Strakhovanie Strakhovaya Kompaniya OOO str 1 8 Chistoprudnyy bulvar Entity UKRAINE EO13662 Non SDN 100 Obshchestvo s Ogranichennoi Otvetstvennostyu VTB Faktoring d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB Factoring Limited d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB Factoring Ltd d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 VTB Faktoring OOO d 52 str 1 nab Kosmodamianskaya Entity UKRAINE EO13662 Non SDN 100 Aktsionernoe Obshchestvo Negosudarstvenny Pensionny Fond VTB Pensionny Fond d 43 str 1 ul Vorontsovskaya Entity UKRAINE EO13662 Non SDN 100 Nekommercheskaya Organizatsiya Negosudarstvenny Pensionny Fond VTB Pensionny Fond d 43 str 1 ul Vorontsovskaya Entity UKRAINE EO13662 Non SDN 100 Non State Pension Fund VTB Pension Fund JSC d 43 str 1 ul Vorontsovskaya Entity UKRAINE EO13662 Non SDN 100 Nonprofit Organization Non state Pension Fund VTB Pension Fund d 43 str 1 ul Vorontsovskaya Entity UKRAINE EO13662 Non SDN 100 NPF VTB Pension Fund JSC d 43 str 1 ul Vorontsovskaya Entity UKRAINE EO13662 Non SDN 100 NPF VTB Pensionny Fond AO d 43 str 1 ul Vorontsovskaya Entity UKRAINE EO13662 Non SDN 100 Obshchestvo s Ogranichennoi Otvetstvennostyu VTB Nedvizhimost d 70 ul Mosfilmovskaya Entity UKRAINE EO13662 Non SDN 100 VTB Nedvishimost OOO d 70 ul Mosfilmovskaya Entity UKRAINE EO13662 Non SDN 100 VTB Real Estate Limited Liability Company d 70 ul Mosfilmovskaya Entity UKRAINE EO13662 Non SDN 100 VTB Real Estate LLC d 70 ul Mosfilmovskaya Entity UKRAINE EO13662 Non SDN 100 CJS VTB Specialized Depository 35 Myasnitskaya Street Entity UKRAINE EO13662 Non SDN 100 VTB Specialized Depository CJSC 35 Myasnitskaya Street Entity UKRAINE EO13662 Non SDN 100 VTB Registrar 23 Pravdy Street Entity UKRAINE EO13662 Non SDN 100 VTB Registrar CJSC 23 Pravdy Street Entity UKRAINE EO13662 Non SDN 100 JSC VTB Leasing 2nd Volkonskiy pereulok 10 Entity UKRAINE EO13662 Non SDN 100 VTB Leasing Open Joint stock Company 2nd Volkonskiy pereulok 10 Entity UKRAINE EO13662 Non SDN 100 VTB Lizing OAO 2nd Volkonskiy pereulok 10 Entity UKRAINE EO13662 Non SDN 100 VTB Lizing Otkrytoe Aktsionernoe Obshchestvo 2nd Volkonskiy pereulok 10 Entity UKRAINE EO13662 Non SDN 100 VTB Leasing OJSC 2nd Volkonskiy pereulok 10 Entity UKRAINE EO13662 Non SDN 100Sports sponsorships The headquarters of VTB Armenia in Yerevan VTB is one of the sponsors of all Dinamo Moscow sport clubs 48 Since 2017 VTB Bank has been the title partner of the Russian Formula 1 stage in Sochi Formula 1 VTB Russian Grand Prix Since 2016 VTB has been the tennis tournament VTB Kremlin Cup VTB has also been the title sponsor of the VTB United League since 2008 Since 2005 VTB Bank has been the general sponsor of the Kamaz Master team a team which has been active in re known rally raid such as Dakar Rally Silk Way Rally and Africa Eco Race 49 Since 2013 VTB Group has been supporting the Velobike a bicycle sharing system in Moscow a project by the Department for Transport and Development of Road Infrastructure of the city In 2018 the number of trips exceeded 3 million SanctionsSee also Russian financial crisis 2014 2016 On 29 July 2014 the Office of Foreign Assets Control OFAC published that the Bank of Moscow and VTB Bank OJSC the second largest bank in Russia has been added to the Sectoral Sanctions Identifications List On 31 July 2014 VTB Bank and its subsidiaries was added to the European Union sanctions list due to its role in the Crimean Crisis that same year 50 On 6 August 2014 VTB was added to the Canadian sanctions list due to its role in the Russo Ukrainian War and the downing of Malaysia Airlines Flight 17 51 On 13 August 2014 United States clarifies entities under sectoral sanctions United States increases its sectoral sanctions on VTB Bank together with its subsidiaries the VTB Group and the Bank of Moscow through its parent bank VTB Bank OAO and other entities that VTB has 50 percent or greater ownership either individually or in the aggregate either directly or indirectly Also US persons cannot use a third party intermediary and they must use caution during transactions with a non blocked entity in which one or more blocked persons has a significant ownership interest that is less than 50 percent or which one or more blocked persons may control by means other than a majority ownership interest 52 On 1 September 2014 VTB was added to the Australian autonomous sanctions list for Russia Crimea and Sevastopol 53 54 55 On 12 September 2014 the United States issues a consolidated listing of directives associated with Executive Order 13662 sanctions during the crisis in Ukraine For the Russian financial sector Directive 1 was amended to increase the financial sanctions on the Russian financial sector for all transactions in provision of financing for and other dealings in new equity or new debt issued on or after 12 September 2014 to longer than 30 days maturity New equity or new debt issued from 29 July 2018 until 12 September 2018 was sanctioned if longer than 90 days maturity 56 57 58 59 In 2015 the banks chief Executive Andrei Kostin predicted loses for the bank in the years to come because of the plunging ruble accelerated by western sanctions 60 On 15 March 2017 Ukraine imposed sanctions against VTB Bank and subsidiaries because of the ongoing Russian interference in Ukraine 61 62 On 28 November 2017 the United States increases the Executive Order 13662 sanctions to the Russian financial sector For the Russian financial sector Directive 1 was amended to increase the financial sanctions on the Russian financial sector for all transactions in provision of financing for and other dealings in new equity or new debt issued on or after 28 November 2017 to longer than 14 days maturity New equity or new debt issued from 12 September 2014 until 28 November 2017 was sanctioned if longer than 30 days maturity 63 On 27 November 2018 the National Bank of Ukraine declares the Ukrainian subsidiary of VTB Bank insolvent due to its declining liquidity and worsening financial position 64 On 25 June 2020 European Court of Justice rejected VTB and Sberbank bank s 2014 lawsuit against EU sectoral sanctions citing that regulators were within their aims of imposing a cost on the Russian government because of the latter s actions in Ukraine 65 66 67 68 46 The Court specified that intentionally ambigous language versions of the regulation that the bank argued were wrongly applied doesn t prevent the Court to from choosing one that fits best its general purposes 65 In February 2022 amid the Russo Ukrainian crisis US and EU officials were reportedly finalizing an extensive package of sanctions on VTB bank and other related Russian entities 69 On 24 February after Russia launched a full scale invasion of Ukraine US president Joe Biden and British prime minister Boris Johnson announced new sanctions against VTB bank along with other Russian individuals and companies 70 See also Banks portal Companies portalTimeline of Russian interference in the 2016 United States elections Timeline of investigations into Trump and Russia July December 2017 East West United BankReferences a b c IFRS financial results 2021 PDF VTB Bank 22 February 2022 p 134 Retrieved 22 February 2022 4 traders Bank VTB PAO company Shareholders managers and business summary MOSCOW INTERBANK CURRENCY EXCHANGE VTBR 4 Traders 4 traders com a b General Information VTB Bank PJSC www vtb com Retrieved 18 February 2022 Rekvizity www vtb ru Retrieved 18 February 2022 a b Shareholder capital structure www vtb com Retrieved 18 February 2022 Struktura gruppy VTB www vtb ru Retrieved 18 February 2022 VTB Annual Report VTB GROUP S STRUCTURE PDF 2019 VTB Group s structure VTB Group Today VTB Annual Report 2019 ar2019 vtb com 2019 Retrieved 18 February 2022 FT Global 500 2011 PDF FT Europe 500 2011 PDF VTB Vneshtorgbank TAdviser Retrieved 15 April 2019 VTB pays symbolic USD 34 000 for Guta Bank New Europe 25 July 2004 Retrieved 15 April 2019 FACTBOX Armenia s economy Reuters 15 February 2008 Retrieved 15 April 2019 V Promyshlenno stroitelnom banke naznacheny dva novyh zamestitelya predsedatelya pravleniya RBK VTB Africa Bank starts operating in Angola in March Macau Hub 26 February 2007 Retrieved 16 April 2019 VTB buys control of Slavneftebank for 25 4 mln business highbeam com Archived from the original on 25 January 2013 Norton Guy 4 June 2007 Russia VTB puts on a good show with 8 billion IPO Euromoney Retrieved 16 April 2019 VTB buys controlling interest in Azerbaijani AF Bank Banki ru 9 December 2008 Retrieved 16 April 2019 a b VTB Completes New Offering That Reduces State Stake By 15 The Moscow Times 24 May 2013 a b Swaine Jon Harding Luke 5 November 2017 Guardian Paradise Papers Russia funded Facebook and Twitter investments through Kushner investor Institutions with close links to Kremlin financed stakes through investor in Trump son in law s venture leaked files reveal The Guardian Manchester England Retrieved 10 February 2018 a b c d e f Drucker Jesse 5 November 2017 Kremlin Cash Behind Billionaire s Twitter and Facebook Investments Leaked files show that a state controlled bank in Moscow helped to fuel Yuri Milner s ascent in Silicon Valley where the Russia investigation has put tech companies under scrutiny The New York Times Retrieved 7 February 2018 Woodman Spencer 5 November 2017 Russian Connections Kremlin owned Firms Linked to Major Investments in Twitter and Facebook The Russian government quietly held a financial interest in U S social media International Consortium of Investigative Journalists Retrieved 10 February 2018 in Ukrainian Ukrainian daughter of Russian VTB Bank bankrupt Economical Pravda 27 November 2018 Seddon Max 14 August 2018 VTB to buy rival Russian bank Vozrozhdenie Financial Times Retrieved 16 April 2019 Ukraine central bank declares Russian VTB subsidiary insolvent Reuters 27 November 2018 VTB pokupaet Sarovbiznesbank i Zapsibkombank Rambler ru in Russian 26 December 2018 Retrieved 16 April 2019 VTB becomes the sole owner of 100 stake in CJSC VTB Bank Armenia Vneshtorgbank owns controlling interest in Promstroybank VTB VTB became the main shareholder of BCEN EUROBANK vtb fr VTB to Buy Out Foreign Banks for the Budget Account Kommersant Moscow kommersant com VTB in 2005 Sputnik 3 November 2005 Russian VTB buys bank from ex senior official in Ukraine paper rian ru vtb buys control slavneftebank 254 mln Search results from HighBeam Business business highbeam com Archived from the original on 25 January 2013 VTB holds a controlling interest in AF Bank Azerbaijan a b Pochtovyj bank nachnet rabotu s 2016 goda Post Bank will start work beginning 2016 lenta ru in Russian 7 September 2015 Retrieved 12 February 2018 V Rossii sozdan Pochta Bank Pochta Rossii i VTB24 podpisali paket dokumentov o sozdanii Pochta Banka V ceremonii prinyali uchastie generalnyj direktor Pochty Rossii Dmitrij Strashnov i prezident predsedatel pravleniya VTB24 Mihail Zadornov Post Bank was created in Russia Post of Russia and VTB24 signed a package of documents on the establishment of Post Bank The ceremony was attended by General Director of Post of Russia Dmitry Strashnov and President and Chairman of the Board of VTB24 Mikhail Zadornov Post Bank website in Russian 28 January 2016 Retrieved 12 February 2018 V Rossii sozdan Pochta Bank In Russia established Post Bank VTB24 website in Russian 27 January 2016 Retrieved 12 February 2018 Banks Company Overview of PJSC Post Bank Bloomberg website Retrieved 12 February 2018 VTB i Pochta Rossii stali paritetnymi vladelcami Pochta banka VTB and Russia Post became parity owners of Post Bank RNS online in Russian 29 December 2017 Retrieved 12 February 2018 VTB 24 About VTB 24 website Banks Company Overview of Bank VTB 24 Public Joint Stock Company Bloomberg Retrieved 12 February 2018 VTB zavershil prisoedinenie VTB24 VTB completed the merger of VTB24 VTB website in Russian 8 January 2018 Retrieved 12 February 2018 VTB bank sale launches privatisation drive in Russia The Telegraph Supervisory council VTB Retrieved 14 February 2019 Raskrytie finansovyh rezultatov po MSFO vtb ru in Russian Retrieved 19 April 2022 Welle www dw com Deutsche VTB prodal svoyu dochku v SShA ee rukovodstvu DW 03 09 2018 DW COM in Russian Retrieved 18 February 2022 Office of Foreign Assets Control OFAC Sanctions List Search Office of Foreign Assets Control OFAC website Retrieved 12 February 2018 VTB otdal paket akcij futbolnogo kluba Dinamo posle sankcij in Russian RBC 24 February 2022 KAMAZ Master ralli Parizh Dakar Shelkovyj put novosti rallijnoj komandy KAMAZ Master na oficialnom sajte VTB Rossii COUNCIL REGULATION EU No 833 2014 concerning restrictive measures in view of Russia s actions destabilising the situation in Ukraine Council of the European Union eur lex europa eu 31 July 2014 Retrieved 10 February 2018 Sanctions List SOR 2014 195 gazette gc ca 6 August 2014 Retrieved 7 March 2018 Revised Guidance on Entities Owned by Persons Whose Property and Interests in Property Are Blocked PDF United States Department of Treasury 13 August 2014 Retrieved 22 March 2018 Sanctions Regime Russia Australian Government Department of Foreign Affairs and Trade 1 September 2014 Retrieved 21 March 2018 Australia and sanctions Autonomous Sanctions Russia Crimea and Sevastopol Specification 2014 Australian Government Department of Foreign Affairs and Trade 1 September 2014 Retrieved 21 March 2018 Australia and sanctions About sanctions Australian Government Department of Foreign Affairs and Trade Retrieved 21 March 2018 Ukraine Russia related Sanctions Sectoral Sanctions under Executive Order 13662 CAATSA OFAC Retrieved 24 March 2018 Ukraine related Sanctions United States Department of Treasury 12 September 2014 Retrieved 22 March 2018 Ukraine Russia related Sanctions Sectoral Sanctions Identifications SSI List EO 13662 Directives United States Department of Treasury Retrieved 24 March 2018 Directive 1 as amended under Executive Order 13662 PDF OFAC 12 September 2014 Retrieved 24 March 2018 White Alexander Kolyandr and Gregory L 22 January 2015 Russia s VTB Hurt by Sanctions Interest Rates Wall Street Journal ISSN 0099 9660 Retrieved 18 February 2022 Poroshe nko Petro Oleksi jovich 15 March 2017 UKAZ PREZIDENTA UKRAYiNI 63 2017 Pro rishennya Radi nacionalnoyi bezpeki i oboroni Ukrayini vid 15 bereznya 2017 roku Pro zastosuvannya personalnih specialnih ekonomichnih ta inshih obmezhuvalnih zahodiv sankcij DECREE OF THE PRESIDENT OF UKRAINE No 63 2017 On the decision of the Council of National Security and Defense of Ukraine dated March 15 2017 On the Application of Personal Special Economic and Other Restrictive Measures Sanctions President of Ukraine website in Ukrainian Retrieved 28 February 2018 Poroshe nko Petro Oleksi jovich 16 March 2017 Glava derzhavi zatverdiv sankciyi shodo nizki rosijskih bankiv The head of state has approved sanctions against a number of Russian banks President of Ukraine website in Ukrainian Retrieved 28 February 2018 Directive 1 as amended under Executive Order 13662 PDF OFAC 29 September 2017 Retrieved 24 March 2018 Ukraine central bank declares Russian VTB subsidiary insolvent Reuters 27 November 2018 a b European court rejects VTB s challenge to the EU s sectoral sanctions on Russia Brick Court Chambers www brickcourt co uk Retrieved 18 February 2022 Review G T 28 October 2014 Russian banks challenge EU sanctions Global Trade Review GTR Retrieved 18 February 2022 Sud ES otklonil apellyaciyu VTB protiv sankcij Vedomosti in Russian Retrieved 18 February 2022 CURIA Documents curia europa eu Retrieved 18 February 2022 Shalal Andrea 11 February 2022 SWIFT off Russia sanctions list state banks likely target U S EU officials Reuters Retrieved 18 February 2022 Explainer How Western sanctions target Russia Reuters 25 February 2022 External links Wikimedia Commons has media related to VTB Bank VTB corporate site Russian website VTB Armenia List of Georgian Banks Retrieved from https en wikipedia org w index php title VTB Bank amp oldid 1138764377, wikipedia, wiki, book, books, library,

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