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    Bloomberg: Gazprom’s Creditors Undeterred by Putin’s Sanctions

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For all the penalties slapped on Russia, some of the nation’s biggest non-sanctioned companies are still able to take loans from European and American banks.

by: Sruthi

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Bloomberg: Gazprom’s Creditors Undeterred by Putin’s Sanctions

For all the penalties slapped on Russia, some of the nation’s biggest non-sanctioned companies are still able to take loans from European and American banks.

Even as U.S. and European syndicated lending to Russian companies plunged 44 percent this year, OAO Gazprom (OGZD), the world’s biggest natural-gas company by output, took a 390 million-euro ($486 million) loan from Italy’s UniCredit SpA this month. Citigroup Inc., JPMorgan Chase & Co. and six other banks extended credit to Bank Otkritie Financial Corp.

Sanctions over President Vladimir Putin’s support for pro-Russian separatists in Ukraine have slowed but not stopped bank lending, and interest payments in some cases are cheaper than elsewhere in the region.
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