U.S. imposes blocking sanctions against IIB and head Kosov - OFAC

MOSCOW. April 12 (Interfax) - The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has included International Investment Bank (IIB) in the specially designated nationals and blocked persons (SDN) list, OFAC said in a statement.

The SND list also now includes IIB head Nikolai Kosov, as well as the deputy chairpersons of the bank's executive board, Georgy Nugzarovich and Imre Laslotsky, respectively.

IIB is a supranational interstate financial organization founded in 1970 by member countries of the Council for Mutual Economic Assistance (CMEA). The current members of the bank are Russia, Hungary, Bulgaria, Vietnam, Cuba, Mongolia, and Romania. The main area of IIB's activity is lending to investment projects. IIB is headquartered in Budapest.