The United States lifted sanctions from the European subsidiary of VTB Bank

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The United States has lifted sanctions on the former European subsidiary of the Russian VTB bank, which is located in Frankfurt am Main, Germany. This was reported by the Office of Foreign Assets Control of the US Treasury.

Ost-West Handeslbank (OWH SE) has been removed from sanctions against the Russian Federation, as follows from published data. Excluded from the sanctions list are positions in which the credit institution was under its previous names – VTB Bank Europe and VTB Bank Deutschland. website Office of Foreign Assets Control, US Department of the Treasury.

Washington’s excessive use of sanctions policy is resulting in a reduction in world trade and a change in the structure of the global economy, says Hossein Askari, a former member of the executive board of the International Monetary Fund (IMF) and special adviser to the Minister of Finance of Saudi Arabia. According to him, there is now a decrease in the amount of world trade compared to what could have been without US restrictions.

Source: Ren TV

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