Russia buys 40bn roubles of shares in Gazprombank

Move is latest support for banking sector suffering from western sanctions over the Ukraine crisis and economic slowdown

The Russian government has bought shares in Gazprombank, the latest support for a banking sector suffering from western sanctions over the Ukraine crisis and a sharp economic slowdown.


Gazprombank said the government had bought 39.95bn roubles (£435m) of its preference shares on Tuesday, using money the bank had returned to the country’s National Wealth Fund (NWF).


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via Business Feeds

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