Russia warned the EBRR about the lawsuit due to the departure of the bank from the country

The Russian authorities decided to file a lawsuit against the European Bank for Reconstruction and Development (EBRD) due to the suspension of his work in the Russian Federation in 2014. This was reported to Interfax by a source in the financial and economic bloc of the government.

Russia sent a letter to the chairman of the Council of Governors of the EBRD, the Minister of Finance of Luxembourg Pierburg Pierre, which says that he considers the “freezing” of the bank’s activities by a violation of its rights as a shareholder and the country of bank operations.

Another interlocutor of Interfax said that in parallel with an appeal to the bank management, it will be determined which court will be able to allow this dispute, a lawsuit will be prepared.

“The bank obviously went beyond the legal space, we suffered for two years, but decided that it was already enough,” the agency’s source said.

On July 6, Deputy Minister of Finance of the Russian Federation, Sergei Storchak, said that the Ministry of Finance was seeking the return of the EBRD and the International Bank for Reconstruction and Development (ICBR) to Russia. As Storchak hopes, the situation with the EBRD will be able to “turn off” for six months.

In 2014, after the introduction of EBRD sanctions against Russia, I received recommendations from the EU not to consider new projects in Russia. Financing of existing projects did not stop. The total amount of bank funds invested in the Russian Federation is estimated at $ 25 billion.