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EBRD promises to ditch Russian assets ASAP

The EBRD is in a hurry to get rid of Russian assets. Photo: ebrd.com

The EBRD is in a hurry to get rid of Russian assets. Photo: ebrd.com

The European Bank for Reconstruction and Development (EBRD) is planning to get rid of its Russian investments as soon as possible. The statement of Odile Renaud-Basso, the Bank’s President, is reported by Reuters.

Quote"We are going to get out and phase out our portfolio as quickly as possible and we are working on it. We can not say more", Ms Renaud-Basso indicated at a media briefing on the margins of the Bank’s annual meeeting in Morocco.

EBRD stopped any and all investments to Russia after Crimea annexation in 2014. But the bank still has stakes in some Russian companies, including the financial sector, namely in the Credit Bank of Moscow and Moscow Exchange.

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