Russian_Regional_Development_Bank

Russian Regional Development Bank

Russian Regional Development Bank

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"RRDB" redirects here. For the video game, see Rusty's Real Deal Baseball.

The Russian Regional Development Bank is a Russian development bank founded on 27 March 1996 in a form of PJSC. The RRDB offers a general variety of banking services.[1]

Quick Facts Company type, Industry ...

History

The RRDB was founded by Rosneft on 27 March 1996.[2]

In early 2020, the RRDB came to attention for its facilitation of the Vedomosti ownership transaction,[2] and correlative appointment of editor-in-chief Andrei Shmarov, a person known for his affinities to Vladimir Putin and to RRDB parent Rosneft.[3]

Sanctions

The bank was sanctioned by Canada on 22 August 2023 for association with the Putin regime.[4]

In November 2023 the bank was sanctioned by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) under E.O. 14024 for operating or having operated in the financial services sector of the Russian Federation economy.[5]

References

  1. [1]
    "Russian Regional Development Bank OAO". Bloomberg. Retrieved 16 June 2020.
  2. [2]
    "Sale of top Russian business newspaper 'Vedomosti' complete". Meduza. 29 May 2020.
  3. [3]
    "Vedomosti Sale Put on Hold After Censorship Backlash". Russia Business Today. 1 May 2020.
  4. [4]
    "Russian entities from the military-industrial, financial and nuclear sectors Country: Russia". 23 August 2023.
  5. [5]
    "Treasury Hardens Sanctions With 130 New Russian Evasion and Military-Industrial Targets". 2 November 2023.

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