Eurofinance Mosnarbank

2022: Appointment as Head of Eurofinance Mosnarbank

On September 20, 2022, Sergei Yarosh was officially appointed new chairman of the board of the Russian-Venezuelan bank JSCB Eurofinance Mosnarbank. According to the press service of "Rostec," the decision was made by the board of the state corporation after coordination with the Central Bank of the Russian Federation. Read more here

2021

The government transfers to "Rostec" a controlling stake in the bank

In October 2021, the Government of the Russian Federation agreed with the Ministry of Finance and will transfer to the corporation Rostec"" a controlling stake in the Russian-Venezuelan Eurofinance of Mosnarbank, which is under severe sanctions. The corporation has this second bank, in stock. Novikombank

Britain rejects extradition requests for Stolyarenko and Bondarenko

Requests filed by the Prosecutor General's Office of the Russian Federation for the extradition of bankers Stolyarenko and Bondarenko from Eurofinance-Mosnarbank in July 2021 were rejected by the British authorities for political reasons.

2019

Gazprombank got rid of shares of Russian-Venezuelan bank

Gazprombank transferred its stake in the Russian-Venezuelan Eurofinance to Mosnarbank to the Federal Property Management Agency, the Gazprombank press service told RBC in August 2019.

The blocking package (25% plus 1 share) was transferred to the state free of charge. As explained in the bank, all corporate procedures for the transfer of the asset have been completed, the transaction has been agreed with the regulators. RBC sent a request to the Federal Property Management Agency.

VTB transferred a stake in Eurofinas Mosnarbank to the Federal Property Management Agency

On April 1, 2019, information appeared that VTB withdrew from the capital of Eurofinance Mosnarbank, reducing its share from 7.99% to zero.

As previously stated, VTB Bank donated its entire stake in Eurofinance to Mosnarbank to the Federal Property Management Agency, the VTB press service told Interfax.

VTB Group owned 25% + 1 share of Eurofinance Mosnarbank (VTB Bank and VTB Bank Europe - 8% each, ITC Consultants - 9%). VTB has not yet specified whether the shares in Eurofinas Mosnarbank, which are on the balance sheet of foreign subsidiaries, were transferred to the state.^[1]

Gazprombank will transfer to the state a stake in Eurofinance Mosnarbank

Gazprombank will transfer to the Federal Property Management Agency a stake in Eurofinance Mosnarbank, in respect of which the United States imposed sanctions on March 11 due to ties with the Venezuelan state-owned oil company PDVSA.

"Gazprombank... now it is consulting with relevant departments. As far as I know, the bank intends to send its proposals to the government soon, "a source familiar with the negotiations told TASS in March 2019. A Gazprombank spokesman confirmed this information, declining to comment further

Earlier,  VTBANDRAY President  Kostin said that the bank headed by him would transfer a stake in Eurofinance Mosnarbank to the state. According to him, the decision has already been made by First Deputy Prime Minister Siluanov. VTB decided to abandon the asset even before the imposition of sanctions, he said. The transfer will take place in the coming days, added A. Kostin.

Blocking cards due to US sanctions

On March 13, 2019, it became known that maps Eurofinance would switch to World"," because Visa MasterCard the bank was disconnected due to. sanctions USA

The National Payment Card System (NSPK) notes that card transactions can be resumed as soon as the bank solves processing problems.

MasterCard cards issued by the bank are not in circulation as of March 13, 2019, the bank has not issued them for a long time and therefore no replacement is required.

The re-issue of cards is required due to the suspension by international payment systems Visa and MasterCard from March 12, 2019 of the membership of a credit institution in them. This entailed the blocking of Visa and MasterCard cards abroad and in Russia. According to the annual report for 2017, the bank issued more than 2 thousand cards of three payment systems. At the same time, salary projects were implemented with 10 organizations, and for 14 organizations the bank issued cards.

The NSPK explained:

Processing of Eurofinance Mosnarbank cards was stopped by PC MapStandard"" - the contractor Eurofinance Mosnarbank for the implementation of the functions of processing bank cards. Card transactions are correctly processed in the NSPK, as established by law, but do not receive authorization from the issuing bank on whose behalf Card processing acts. As soon as the bank restores its processing or engages another contractor, transactions will continue to be successfully processed.

As of March 2019, Eurofinance Mosnarbank ranks 96th in terms of assets among Russian banks. As of February 1, 2019, 8.9 billion rubles were placed in Eurofinance Mosnarbank. Funds of individuals. Eurofinance Mosnarbank is 49.99% owned by to Venezuelan to state the National Development Fund (Fondo de Desarrollo Nacional), as well as To Gazprombank VTB 25% each.

US sanctions for supporting Venezuela

On March 11, 2019, the US Treasury included the bank in the SDN list. The restrictive measures were taken for the bank's ties with the Venezuelan state oil and gas company Petroleos de Venezuela SA (PDVSA).

author '= Victor Dostov, Chairman of the Council of the Electronic Money Association[2] I think that if such an apocalypse begins, we will have difficulty accessing dollars at all on a national scale. That is, if we start to "cut off" large banks, this means systemic sanctions, and Russia will, accordingly, be fenced off from the free circulation of the dollar.

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