14 May 2018 11:37

Loans to cos hit by sanctions in pipeline, Vekselberg received support - minister

MOSCOW. May 14 (Interfax) - The issue of providing credit resources to companies hit by U.S. sanctions is being worked out, the amounts are being discussed, and Viktor Vekselberg's Renova Group has already received support, acting Finance Minister Anton Siluanov told reporters.

"I can't say anything new. We are working out issues of support, including credit support. The issue is foremost companies hit by sanctions - UC Rusal , GAZ . The issue of credit support from the bank that has been created by the government, Promsvyazbank (PSB) , is being considered," Siluanov said.

Asked if companies, such as Renova, will get the amount of support they have requested, Siluanov said that the "amount is being discussed."

"I would prefer not to say now. These are such private matters, private companies. In any case, the bank will provide liquidity on the usual terms," Siluanov said, adding that government guarantees will not be provided on these loans.

"Support has already been provided to Vekselberg, a week ago. Regarding the amounts, I would just prefer not to say," Siluanov said.

Asked whether Renova might receive additional support, he said: "Everything is being discussed. I repeat again, this is the internal matter of Promsvyazbank as a commercial bank and its clients. In this case, its clients are sanctioned businesses."

The issue of the government buying stakes in Oleg Deripaska's companies En+ Group and Rusal is still not being considered, Siluanov added.