The EU explained its recommendation to banks for buying Russian bonds – RBC

EU Ambassador to Russia Vygaudas Ušackas gave an explanation for the recommendation of the European banks to be careful about buying the sovereign Russian bonds, according to RIA “Novosti».

«Decision concerning restrictive EU measures adopted by the European Council unanimously. Some of these measures relating to certain sectors of the economy, does not prohibit the purchase, sale, and other actions with the bonds issued by the Russian government, “- said in a statement the EU ambassador

In this case, Usackas said the EU measures” aimed at restricting access to the EU capital for certain, the listed Russian companies, which are owned or controlled by the state, as well as the ban on the provision of certain financial services ».

« Regulation also prohibits to circumvent the ban, and any bank should be careful and exercise due diligence in order to make to the list of organizations were unable to gain access to the capital market with the use of third parties “, – stated in a statement.

Financial Times, citing sources in the banks on Monday, March 14 wrote that Brussels has warned European banks from the placement of Russian Eurobonds. Despite the fact that the European Union imposed sanctions against Russia are not directly prohibit the purchase of Russian debt, EU officials privately asked the European banks with the warning that was previously voiced by Washington for US banks, the newspaper notes. The EU believes that the proceeds from placement of securities, can be used “for other purposes”. According to the newspaper, representatives of Brussels in a private conversation with the leadership of the banks urged to remember about the risk that the bonds may be used to circumvent sanctions.

Earlier, The Wall Street Journal reported that US officials warned the US big banks to participate in the placement of Russian Eurobonds. Washington felt that it may be contrary to the policy of sanctions against Moscow. Then edition reported that not all banks have decided on further action. Later sources of the newspaper reported that Goldman Sachs has made an application to participate in the placement of Russian sovereign bonds, but in such a way that it can be revoked at any time by referring to the position of senior bank executives. According to a source publication, J.P.Morgan Chase was considering the application, but in the end the bank’s management decided not to do so, and Bank of America Corp., Citigroup Inc., Morgan Stanley and Wells Fargo & amp; Co. originally announced their refusal.