The “breakthrough” of Putin’s business into the open world turned out to be an interlude, as a result of which the state-owned VTB Bank acquired shares of the toxic Sechin Rosneft.
To participate in project financing to the Italian bank is hampered by the threat of sanctions.
The Government approved a loan of €5,2 billion by Intesa Sanpaolo for the consortium of Glencore and QIA.
The bank considers the Russian company a very reliable partner.
Intesa, which gave a loan for €5,2 billion to Glencore and Qatar QIA for the purchase of shares in Rosneft, wants to syndicate it, but may encounter difficulties. Foreign banks are not willing to participate until they know all the details of this transaction.
Thus, the bank has provided half of the funding for the transaction.