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 Tuesday, September 6 2016

Karine Melikyan

Inclusion of Areximbank-GPB Group in sanctions list of US Department  of Treasury will not affect stability of its operation 

Inclusion of Areximbank-GPB Group in sanctions list of US Department  of Treasury will not affect stability of its operation 

ArmInfo.Yerevan, September 6. ArmInfo. Karina Melikyan. Inclusion of  Areximbank-GPB Group in sanctions list of US Department of Treasury  will not affect stability of its operation. The bank operates as  usual.  

The press-service of the bank has told ArmInfo on September 6, that  orders of all the clients- physical ones and legal entities, all the  obligations to depositors, investors and creditors are fulfilled  completely and in set terms. The payments on AMD and foreign currency  accounts, including transactions by bank cards of VISA and MasterCard  international payment systems are conducted fully and without delays.  Client services is conducted as usual. 

To recall, in the middle of 2014 sanctions were imposed against  Russian Gazprombank (owns 100% shares of Areximbank), which envisage restrictions on access of US investors to long-term (more then 90 days) debts instruments of the bank after July 16 2014. 

On September 1 the Department of the Treasury's Office of Foreign  Assets Control (OFAC) updated the Specially Designated Nationals List  and the Sectoral Sanctions Identifications List to target sanctions  evasion and other activities related to the conflict in Ukraine. A  number of subsidiaries of Russian Gazprom, Gazprombank and other  companies are included in the list. Gazprombank has already made a  statement that all the companies parts of Gazprombank group de- facto  were under US sectoral sanctions as Gazprom owns the share in them  exceeding 50%. Thus, the latest report by the US Department of  Treasury in fact does not mean any changes either for Gazprombank or  for the abovementioned enterprises, which continue to operate as  usual.

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