Raiffeisenbank prefers to leave the clients without bonds of the Russian issuers which are under economic sanctions of the European Union and the USA.
The Russian subsidiaries of foreign banks proceed to adhere strictly to the mode of sanctions and even extend them to spheres which are not connected with finance of the bank. The Austrian group Raiffeisen Bank International (RBI) and his Russian "daughter" "Raiffeisenbank", and also UK "Raiffeisen Equity" do not buy the bond of the sanctions companies of any releases for clients in trust management. I have told a source in bank about it. It is possible to trace it through the reporting of the UK "Raiffeisen Equity" share funds where completely there are no bonds of the sanctions companies.
"Raiffeisenbank" has refused comments. Earlier the division manager on work with investors of RBI Susanne Langer said that the group completely observes the mode of sanctions and considers it during the work in the local markets. Other large "subsidiaries" of the foreign companies — "Rosbank", "Unicreditbank", ING, "Citibank", "Home Credit bank" did not begin to answer a question of purchases of sanctions bonds for the benefit of clients. The Nordea bank has reported that in connection with the accepted investment policy the bank is not an active participant in the Central Bank market, including in the debt market. In one more of banks (have asked not to read the name) Forbes have reported that private clients can buy securities through bank, but only if it is broker transactions. The Bank of Russia has reported that do not comment on operating activities of banks.
The partner of Tertychny Law Ivan Tertychny explains that in a question of observance of sanctions by the foreign companies and their Russian "daughters" the legal component occupies only a half of a question, the rest is own idea of the company of reputation, risks etc.
"Many things are made of reinsurance that the head company was accused of a bypass of sanctions" — the lawyer says.
The Ministry of Finance of the USA has two sanctions SDN lists (Specially Designated Nationals) and SSI (Sectoral Sanctions Identifications). In case of hit in the first company assets are blocked, and the American citizens and persons are forbidden to run any business and transactions with them. When getting the companies into the list of the companies concerning which sectoral sanctions (SSI) are costituted enters restrictions for new financing from the companies of the USA. A typical example is the prohibition on attraction of loans the American banks and investors in the form of bonds or the credits. At the same time the prohibition does not extend to a debt less than 90 days, and nothing was mentioned about private clients.
The CEO of UK "Arikapital" Alexey Tretyakov assures that the debt problem of the Russian companies is solved — banks have an excess liquidity therefore sanctions restrictions have practically ceased to influence profitability. "Sanctions from regulators continue to threaten divisions of the western banks in case of violation of the mode of sanctions though sooner or later they will need to resolve an issue with self-restriction in work with the largest companies" — Tretyakov considers. The head of National league of managing directors Dmitry Alexandrov considers any advantage for clients in such approach precisely is not present. "It seems to me that it is incorrect work комплайнс. Managing directors shall be engaged in search of ideas in a ratio risk profitability. There is no communication between bond purchases, for example, Gazprombank and excess risks for the Russian clients" — Alexandrov is sure.