The Russian Regional Development Bank is a Russian
development bank
Development finance institution (DFI), also known as a Development bank, is a financial institution that provides risk capital for economic development projects on a non-commercial basis.
DFIs are often established and owned by governments or ...
founded on 27 March 1996 in a form of
PJSC. The RRDB offers a general variety of banking services.
History
The RRDB was founded by
Rosneft
PJSC Rosneft Oil Company ( stylized as ROSNEFT) is a Russian integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and pet ...
on 27 March 1996.
In early 2020, the RRDB came to attention for its facilitation of the ''
Vedomosti
( rus, Ведомости, p=ˈvʲedəməsʲtʲɪ, ) is a Russian-language business daily newspaper published in Moscow.
History
was founded in 1999 as a joint venture between Dow Jones, who publishes ''The Wall Street Journal''; Pearson, ...
'' ownership transaction,
[ and correlative appointment of editor-in-chief ''Andrei Shmarov'', a person known for his affinities to ]Vladimir Putin
Vladimir Vladimirovich Putin (born 7 October 1952) is a Russian politician and former intelligence officer who has served as President of Russia since 2012, having previously served from 2000 to 2008. Putin also served as Prime Minister of Ru ...
and to RRDB parent Rosneft.
Sanctions
The bank was sanctioned by Canada
Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...
on 22 August 2023 for association with the Putin regime.
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.
References
{{reflist
External links Official website
Banks of Russia