Gazprom continues using Gazprombank services on full scale despite U.S. sanctions
MOSCOW. July 20 (Interfax) - Gazprom continues working with Gazprombank on a full scale despite the U.S. sanctions imposed on the lending institution.
A commentary posted on the Gazprom website on Sunday says: "Gazprom Group, including LLC Gazprom Export, executes all settlements in Russian rubles and foreign currency on the accounts of OJSC Gazprom and its affiliates opened with Gazprombank (OJSC) on a full scale and in due time despite the expanded sanctions unilaterally declared by the U.S. administration on July 16, 2014 with regard to several Russian companies, including Gazprombank (OJSC)."
As reported earlier the United States on Wednesday imposed sanctions against Gazprombank and other entities. The new sanctions prohibit U.S. investors from dealing in new debt of longer than 90 days maturity or new equity for banks and companies under sanctions. However, the assets of companies in the U.S. will not be affected. Regular transactions with the banks and companies under sanctions will not be prohibited to U.S. citizens and legal entities.