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Areximbank-GPB Group staff members visit schools in Armavir region under My Finance Month-2016 project

Armenia's Parliament Vice Speaker: No negotiations are possible unless Azerbaijan stops violating ceasefire

U.S. Congresswoman Loretta Sanchez Calls for Leahy Law Investigation of Azerbaijani Abuses

Bako Sahakyan says Karabakh will cede no land and urges world community to reconsider its attitude towards aggressor

Bako Sahakyan: Karabakh conflict cannot be settled, unless Artsakh in involved in peace talks

Konstantin Kosachev: Turkey's stance on Karabakh encourages of one the sides to the conflict to continue it

Azerbaijan continues violating ceasefire arrangements

Armenian Defense Ministry registers 18 incidents on border with Azerbaijan

SCR: Number of railway casualties in Armenia keeps increasingly growing

Ankara hopes Karabakh conflict will be resolved with due regard for 'sovereignty' of Azerbaijan

Beeline extends functions of My Beeline Armenia application

Nikol Pashinyan: Opposition exaggerates Electoral Code's role in holding fair elections

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Nagorno-Karabakh Defense Army presented evidences of rocket bombardment of Mataghis by Azerbaijani armed forces

Central Bank of Armenia approves merger agreement of ProCredit Bank and INECOBANK

Stratfor forecast: Military escalation will continue to be a possibility in Nagorno-Karabakh, with effects that reach far beyond the bounds of the small contested territory

EU supports peaceful resolution of Karabakh conflict, Malena Mard says

Azerbaijan's armed forces fire more than 240 rounds at Karabakh positions and target Mataghis populated area overnight

Armenia's Defense Ministry: Azerbaijan shells at state border with Armenia

U.S. Department of State: We have remained in contact with both governments and we need to see the peace process back up and running as soon as possible

Manvel Sargsyan: Armenia due to reconsider fundamentally its 20-year-long policy towards Russia

Seyran Ohanyan: There will be no new dismissals in Armenia's defense system

Nagorno-Karabakh Defense Army: Adversary's movements noticed on northeastern direction of line of contact

Artsrun Hovhannisyan: Situation in Artsakh is quiet at the moment

Yerevan: The time has come for international community to call Baku to order by using specific measures

Arpine Hovhannisyan: Mihran Poghosyan case is being investigated

Russian foreign ministry: the primary task is to exclude regular outbreak of aggression

Three Armenian servicemen wounded on Line of Contact of Nagorno-Karabakh and Azerbaijani troops

Investigative Committee: Identity of the second killed passenger is established

National Revival: Hermine Naghdalyan's statement is a stab in the back of Artsakh soldier

Communist Party of Russia suggests Vladimir Putin to deploy missiles in Cuba to protect Russia and Armenia

Russia thinks military contacts of Baku and Yerevan may be continued

NKR Defense Army: Baku's reports that Armenian side allegedly uses ammunition banned by international conventions are delirium

Oskanian's party not to demand Serzh Sargsyan's resignation

Stepanakert condemns Baku's attempts to denounce unilaterally the trilateral cease-fire agreement of 12 May 1994

Russian Foreign Ministry: Contribution to search for optimal solutions in Nagorno-Karabakh peace process continued

David Babayan: Politicians who fill their stomachs with caviar or pockets with oil revenues and glorify dictatorships are terrorists too

NKR Defense Ministry calls on Azerbaijan to stop using civilians as human shield

Nikolay Bordyuzha: Flare-up of the Nagorno-Karabakh conflict "will blow up the entire Caucasus"

Armenia's Deputy Minister of Defense and OSCE CiO Personal Representative discuss situation in Karabakh

Azerbaijani armed forces open sporadic fire at state border with Armenia overnight

NKR Defense Army soldier killed, as Azerbaijan intensifies shelling

Hayazn Party demonstration demands from authorities not to make any territorial concessions in Karabakh issue

Armenian lawmaker stresses the need to boycott Turkish goods and to ban import of any Turkish products

Deputy Speaker of Armenian parliament: Holding second referendum on independence of Nagorno-Karabakh is inadmissible for Armenian side

Ankara responds to Lavrov's statement in Yerevan

U.S. Embassy in Armenia offers Armenian authorities assistance to investigate bus incident

Views from Moscow: The author of the "four-day war" in Karabakh is beyond doubt

Armenian President dismisses two generals of Armed Forces

OSCE Representative reiterates call on Armenia authorities to ensure journalists' safety

Regional

Official stance of VTB Bank OJSC and VTB Bank (Armenia) CJSC on U.S. sanctions

  • by Karina Melikyan

  • Wednesday, July 30, 21:12

 "In relation to the U.S. sanctions against a number of Russian banks, including VTB Bank OJSC, we announce that VTB Bank (Armenia) is operating as usual, providing the full spectrum of services related to deposit and loan contracts, as well as money transfers and payments by means of bankcards", says the official press release of VTB Bank (Armenia).  

The source says that the sanctions will have no effect on the customers of VTB Bank (Armenia). The Bank will keep providing the whole spectrum of services in all currencies. The representatives of Visa and MasterCard have already confirmed that the Bank's plastic cards can be applied without any restrictions both in Armenia and abroad.    

The official stance of VTB Bank OJSC is as follows, "VTB regrets the US Government's decision to limit the bank's access to capital markets. This move appears particularly misguided given that VTB strictly adheres to all applicable international laws and regulations, including those set out by the US authorities, which they are well aware of. We view this decision as politically motivated, unfair, legally dubious and economic damaging for all parties.

VTB is a systemically important institution in Russia with a diverse international presence and solid financial position. In spite of the discriminatory decision taken by the US, VTB will continue to meet all of its obligations to its clients, investors and other stakeholders.

The measures taken by the US Government to restrict VTB's access to the capital markets do not impact the bank's operational performance and creditworthiness. VTB enjoys an excellent reputation among international investors, and has a very strong borrowing record and expertise in various geographies in addition to western markets. We are confident in our ability to raise new funding when necessary".

VTB Bank (Armenia) joined VTB Group in Apr 2004. 100% of its shares are owned by VTB Bank. The bank has the biggest branch network in Armenia (67 branches all over the country). 

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