U.S. sanctions against Russian banks will not affect their Armenian subsidiaries – businessman says

U.S. sanctions against Russian banks will not affect their Armenian subsidiaries – businessman says

YEREVAN, July 31. / ARKA /. A prominent Armenian businessman called today on Armenia’s business community to not be bothered by new U.S. sanctions against Russia targeting its energy, banking and defence sectors.

Arsen Ghazaryan, the chairman of the Union of Industrialists and Entrepreneurs, said to reporters that VTB Bank (Armenia) and Areximbank -Gazprombank Group, two local Russian-owned banks  are under the jurisdiction of Armenia, although their main offices are  in Russia. 

“They work under the laws of Armenia, get profit and pay taxes here," he said.

Earlier the U.S. Embassy in Armenia provided more details to Armenian government and local companies about sanctions imposed by Washington against Russia over the Ukrainian crisis. -0-

18:00 31.07.2014

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