Alfa Bank refused to work with enterprises of the military-industrial complex

Alfa Bank will not serve Russian defense enterprises because of sanctions.
04.01.2018
Kommersant
Origin source
Alfa-Bank notified the enterprises of the Russian defense complex that they refuse to serve them because of the sanctions imposed on Russia. The first deputy chairman of the bank's board Oleg Sysuev informed Ekho Moskvy radio station. "This does not mean that we broke up relations with them all at once. We try to minimize risks as much as possible, "Mr. Sysuyev said. According to him, the enterprises of the national defense complex accounted for the bulk of Alfa-Bank's loan portfolio.

The fact that the client base of the bank is narrowing because of sanctions, Mikhail Fridman, a shareholder of the Alfa Group Consortium, said earlier in an interview with Forbes published on December 29. He confirmed that due to restrictive measures Alfa-Bank stopped servicing defense enterprises. "Of course, we left there. But the defense enterprises basically financed the state. Problems related to sanctions, we do not remember at the bank, "Mr. Fridman said.

In mid-December, the US Department of Commerce blacklisted two Russian defense companies - JSC Designer Experimental Bureau Novator and JSC Federal Research and Production Center Titan-Barricade. The US authorities consider the activities of these enterprises to be contrary to the interests of national security and foreign policy.

In October, Kommersant learned that the Russian financial corporation (ROS), which is 100% owned by Rosoboronexport (part of Rostekh), became the main candidate for the role of a specialized bank for servicing the defense industry complex. The allocation of a special bank for the defense industry was required because of the high risk of tougher sanctions on the part of the United States.

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