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

“ Gazprombank ... is now holding consultations with relevant departments. As far as I know, the bank intends to soon send its proposals to the government,” a source familiar with the progress of the negotiations told TASS. A representative of Gazprombank confirmed this information, refusing further comments.

On Thursday , VTB President Andrei Kostin said that the bank he heads will transfer its 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 clarified. The transfer will take place in the coming days, Kostin added.

The main shareholder of the bank with a share of 49.99% is the Venezuelan National Development Fund (Fondo De Desarrollo Nacional Fonden SA., FONDEN). VTB and Gazprombank directly and indirectly control 25% of the shares. According to the Central Bank, Evrofinance Mosnarbank now ranks 96th in terms of assets among Russian banks.

Gazprombank, following VTB, will transfer to the state a stake in Eurofinance Mosnarbank