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Rosselkhozbank plans to open a representative office in China
The Supervisory Board of Rosselkhozbank at a meeting on Thursday decided to open a representative office of the bank in Beijing, according to the materials of the RSHB.
Details about the tasks and objectives of the mission are not disclosed.
Relations between Russia and the West deteriorated due to the situation in Ukraine. During the 2014 year, the EU and the US phased in to impose sanctions against Russian politicians, businessmen and companies, primarily defense, energy and state banks. At the same time, Russia began to develop cooperation with Asian companies and banks.
In the middle of October, VTB, VEB and Rosselkhozbank, which fell under Western sanctions, reported on a number of agreements with the Export-Import Bank of China (Eximbank) for a minimum of up to 4 billion dollars. In particular, the RCSB concluded an agreement with Eximbank on the provision of trade finance.