Although VTB Bank (Armenia) was included in the list of the organizations falling under updated U.S. sectoral sanctions, the legal force and volume of the sanctions imposed on it in September 2014 have not changed. VTB Bank (Armenia) has come out with such statement following the Sectoral Sanctions List Update by U.S.
The Bank says it continues functioning properly, maintaining a high level of liquidity and capital. The publication of the Sectoral Sanctions Identification List did not require any alternative decisions from the Bank, as the sanctions mainly restrict the new debts from U.S. with longer than 30 days maturity.
Meantime, VTB Bank (Armenia) raises funds mainly from the country and enjoys the support of its parent bank - VTB (PJSC). The Bank fulfills its liabilities to customers and declares that the sanctions update will not affect its customers: neither private nor corporate ones.