Tweet
HAYOTS ASHKARH: RUSSIA SANCTIONS AND ARMENIA
09:43 * 19.07.14
Below is an excerpt from the paper's editorial
The new restrictions on Russian companies are likely to have both a
direct and indirect impact on Armenia.
Thus, Gasbrombank is represented in Armenia through its affiliate,
Areximbank-Gasprom Group. The bank, which is a 100 percent owner
of Areximbank-Gasprom Group, is first of all engaged in serving the
cash flow of Russian companies operating in Armenia. Among the bank's
clients are Gazprom Armenia, the Electric Networks of Armenia, the
International Energy Corporation, VivaCell-MTS and many other companies
attracting the Russian capital. Areximbank-Gazprrom is, of course,
vested with the functions carried out by the other banks in Armenia.
The enforcement of restrictions against Gazprombank will naturally
negatively impact its daughter company in Armenia. That may be
reflected through both the scarcity of financial means and a delay
in investment projects.
But the sanctions against Rosneft (a major Russian oil company - Ed)
are expected to have a far more negative impact. Though the company
can be said to be only formally represented in Armenia, there are,
nonetheless, serious investment expectations. That first of all
concerns the new plant being built on the basis of [the rubber plant]
Nairit which is expected to attract $500 million worth investments.
Armenian News - Tert.am
09:43 * 19.07.14
Below is an excerpt from the paper's editorial
The new restrictions on Russian companies are likely to have both a
direct and indirect impact on Armenia.
Thus, Gasbrombank is represented in Armenia through its affiliate,
Areximbank-Gasprom Group. The bank, which is a 100 percent owner
of Areximbank-Gasprom Group, is first of all engaged in serving the
cash flow of Russian companies operating in Armenia. Among the bank's
clients are Gazprom Armenia, the Electric Networks of Armenia, the
International Energy Corporation, VivaCell-MTS and many other companies
attracting the Russian capital. Areximbank-Gazprrom is, of course,
vested with the functions carried out by the other banks in Armenia.
The enforcement of restrictions against Gazprombank will naturally
negatively impact its daughter company in Armenia. That may be
reflected through both the scarcity of financial means and a delay
in investment projects.
But the sanctions against Rosneft (a major Russian oil company - Ed)
are expected to have a far more negative impact. Though the company
can be said to be only formally represented in Armenia, there are,
nonetheless, serious investment expectations. That first of all
concerns the new plant being built on the basis of [the rubber plant]
Nairit which is expected to attract $500 million worth investments.
Armenian News - Tert.am