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U S Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs

U S Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs
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U S Imposes Additional Sanctions on Russia: Sberbank, VTB, & Financing Restrictions | Kelley Drye & Warren LLP

Expanded US Sanctions Targeting Russia s Financial Sector | Pillsbury - Global Trade & Sanctions Law

U S Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift And Severe Economic Costs - United States Acts In Tandem With Partners And Allies To Maximize Consequences For Russia, And In Show Of Unity Against Invasion Of A Sovereign State

<p><span>The United States took significant and unprecedented action to respond to Russia&rsquo;s further invasion of Ukraine by imposing severe economic costs that will have both immediate and long-term effects on the Russian economy and financial system. The</span><b>&nbsp;</b><span>U.S. Department of the Treasury&rsquo;s Office of Foreign Assets Control (OFAC) today imposed expansive economic measures, in partnership with allies and partners, that target the core infrastructure of the Russian financial system &mdash; including all of Russia&rsquo;s largest financial institutions and the ability of state-owned and private entities to raise capital &mdash; and further bars Russia from the global financial system. The actions also target nearly 80 percent of all banking assets in Russia and will have a deep and long-lasting effect on the Russian economy and financial system.</span></p>

VEON s subsidiaries in Ukraine and Kazakhstan sign bilateral long-term loan agreements in local currencies for around USD 170 million

Share this article Share this article AMSTERDAM, Dec. 24, 2020 /PRNewswire/ VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, announces that its operating company in Ukraine, Kyivstar, has signed three bilateral unsecured loan agreements with Raiffeisen Bank Aval Joint Stock Company ( Raiffeisen ), Joint Stock Company Alfa-Bank ( Alfa-Bank ) and Joint Stock Company OTP Bank ( OTP ), for an aggregate amount of UAH 4.1 billion (approximately USD 145 million [1]). The loan agreement with Raiffeisen has a 5-year term, and the loan agreements with Alfa-Bank and OTP have a 3-year term. Similarly, VEON s subsidiary in Kazakhstan, KaR-Tel, has signed a bilateral unsecured loan agreement with Forte Bank JSC for KZT 10 billion (approximately USD 25 million

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