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Russiagate

55 Views • Created 6 years ago By BrentD15 • Updated 6 years ago

Created By BrentD15 • Updated 6 years ago

Russian sanctions against Rosneft

(Reuters) - Italian bank Intesa Sanpaolo has encountered problems syndicating a loan to Glencore and Qatar's wealth fund to finance their purchase of a stake in the Kremlin-controlled oil major Rosneft because of new U.S. sanctions against Russia Four banking sources told Reuters that Western banks including from the United States and France have so far put on hold their participation in the syndication of the 5.2 billion euro ($6.13 billion) loan that Intesa provided last year. The syndication is stuck because of new U.S sanctions on Russia. The new sanctions are so wide-reaching that they will surely impact all similar deals involving Russian state firms," said a London-based source with a large Western bank invited by Intesa to participate in the syndication With the new sanctions, I expect a lot of troubles with lending to projects led by Russian state firms... And possibly to many private ones," said one of the banking sources.
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Russiagate

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