trending Market Intelligence /marketintelligence/en/news-insights/trending/B08F8npI8ZnEF_JpnRURHg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

US sanctions Russian lender Evrofinance MosnarBank

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

US sanctions Russian lender Evrofinance MosnarBank

The U.S. Treasury's Office of Foreign Assets Control imposed sanctions on JSCB Evrofinance-Mosnarbank Bank JSC, a Moscow-based lender jointly owned by Russian and Venezuelan state companies, for allegedly attempting to evade U.S. sanctions on Venezuela.

The bank has materially assisted, sponsored or provided support to Venezuelan state-owned oil firm Petróleos de Venezuela SA, or PdVSA, the Treasury said March 11. PdVSA has been in the Treasury's sanctions list since January.

"This action demonstrates that the U.S. will take action against foreign financial institutions that sustain the illegitimate Maduro regime and contribute to the economic collapse and humanitarian crisis plaguing the people of Venezuela," Treasury Secretary Steven Mnuchin said.

The bank, for its part, said it is continuing to operate in a stable manner and that it will unconditionally meet its obligations to clients and partners, The Wall Street Journal noted.

In 2011, former Venezuelan President Hugo Chávez purchased a 49% stake in Evrofinance through Venezuela's National Development Fund, Fondo De Desarrollo Nacional Fonden SA, while Russian lenders AO Gazprombank and state-owned VTB Bank PJSC each owned a 25% stake in the bank at the time of its incorporation, according to the Treasury.