Today, December 23, the management of JSC VTB Bank (Azerbaijan) made an explanatory statement about the impact of the inclusion of the bank to the list of organizations that fall under US sector sanctions.
The document notes that the inclusion of VTB Bank (Azerbaijan) in the specified list "does not change the validity and scope of the sanctions applied to it", which has been operating from September 2014.
The bank continues to operate as usual, while maintaining high levels of liquidity and capital. At the same time the US sanctions against the bank do not require it to take a decision on the alternatives as the sanctions imposed mainly restrict attraction of funds from the United States by the bank for more than 30 days. The bank specified that it has no funds of the kind.
The bank attracts fixed assets in the country and is supported by the parent company - VTB Bank (PAO) in Russia.
For clients of VTB (Azerbaijan) the extension of the restrictive measures by the United States will not change anything, according to the statement.
The share capital of VTB Bank (Azerbaijan) is divided between the Russian side - JSC VTB Bank (51%) and Azerbaijan - JSC Ata Holding (48.99%) and an individual Ashraf Kamilov (0.01%).
The authorized capital is 50.8 million manats. -----08D
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