Troubled Russian International Bank finds capital in South Ossetia. Natalya Borzova’s comment in Vedomosti

The new owners intend to work with Syria and Iran. The bank says investors are not frightened by sanctions – RIB will service clients in South Ossetia, recognized by Russia, Nicaragua, Venezuela and Nauru (other countries consider it a part of Georgia), and will arrange a transparent system of international settlements with Syria and Iran.

Natalia Borzova

Deputy General Director of FinExpertiza

-Any acquisition of equity share, including a foreign investor’s capital, has to be agreed by the Central Bank which thoroughly reviews all documents and sources of finance. It is unlikely that the bank will work with American companies, so sanctions pose no threat to it.