The Russian state will be able to exercise the rights of a VTB shareholder

The Russian state will be able to exercise the rights of a VTB shareholder

© Igor Samokhvalov/PG

The Ministry of Finance will be empowered to exercise the rights of a VTB Bank shareholder on behalf of the Russian Federation. Such a draft resolution of the Government, prepared in the department, is published on the federal portal of draft regulatory legal acts.

As stated in the explanatory note, we are talking about the right to dispose of ordinary shares of a credit institution received as part of an additional issue as a result of the exchange of the requirements of the Russian Treasury under the agreement on the placement of funds from the National Welfare Fund for a deposit agreement dated December 29, 2014.

Representatives of the Ministry of Finance explained that this agreement was concluded between the Treasury and the bank to finance self-sustaining infrastructure projects.

In the meantime, as Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, told Parlamentskaya Gazeta (A Just Russia – For Truth), if now the provision of credit holidays is the right of the bank, then in the future this measure will become the right of the borrower.

He added that now the State Duma is considering a bill that has already been adopted in the first reading, according to which citizens whose incomes have fallen for various reasons will be able to apply to a credit institution and receive a deferral of payments.

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