In connection with the inclusion the VTB Bank onto the list of organizations that fall under the US sectoral sanctions, cardholders have any concerns about possible restrictions on card transactions. "A request was sent to the VISA company regarding this issue, which confirmed that there were no restrictions on the use of their cards in any country, including Russia, and never will be," said the bank VTB Azerbaijan.
«Visa confirms that sectoral sanctions announced by the US Treasury Department on December 22, 2015, do not affect the operations on transactions using cards Visa,» said the response to the company Visa.
VTB Azerbaijan recalled that there are no restrictions for the rest of the card payment systems.
* VTB-Azerbaijan is part of VTB Group, a Russian international financial group. It operates in 20 countries. The main shareholder of VTB with 60.9% interest is the government.
The official opening of VTB Bank (Azerbaijan) took place on November 23, 2009. Currently, 51.00% are owned by the Russian side (VTB Bank PJSC), 48.99% and 0.01% - Azerbaijan (respectively "AtaHolding" and an individual.) -06D—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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