27.07.2023, 08:25
BRICS Bank refused to invest in Russia due to sanctions
Source: OREANDA-NEWS
OREANDA-NEWS The New Development Bank (TWINDB) refuses new investment projects in Russia due to sanctions
This was stated by the head of the credit structure Dilma Rousseff. Her explanation is given by the Reuters news agency.
Rousseff explained that the bank takes such actions because it acts in accordance with the restrictions imposed on financial and capital markets. She stressed that any assumptions concerning the discussion of the bank's new operations in Russia are "unfounded".
On July 26, the President of Russia held a meeting with Rousseff. In the conversation, he pointed out that settlements in national currencies between the BRICS countries are expanding and the NBR could play a role in this issue.
The NBR was established in 2015 in Shanghai. This structure received $10 billion from the BRICS founding countries - Russia, China, India, Brazil and South Africa. In eight years of operation, the EBRD has increased its portfolio by more than 30 times.
This was stated by the head of the credit structure Dilma Rousseff. Her explanation is given by the Reuters news agency.
Rousseff explained that the bank takes such actions because it acts in accordance with the restrictions imposed on financial and capital markets. She stressed that any assumptions concerning the discussion of the bank's new operations in Russia are "unfounded".
On July 26, the President of Russia held a meeting with Rousseff. In the conversation, he pointed out that settlements in national currencies between the BRICS countries are expanding and the NBR could play a role in this issue.
The NBR was established in 2015 in Shanghai. This structure received $10 billion from the BRICS founding countries - Russia, China, India, Brazil and South Africa. In eight years of operation, the EBRD has increased its portfolio by more than 30 times.
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