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Friday, January 26, 2018

Russia's VTB Agrees to 5 Bln Euro Loan to China's CEFC

Russian state bank VTB said on Wednesday it had agreed to loan 5 billion euros ($6.15 billion) to China’s CEFC to finance the purchase of shares in Rosneft, the RIA news agency reported.

VTB Chief Executive Andrey Kostin told Reuters in an interview this month that VTB was ready to make a loan to CEFC so it can buy a stake in Rosneft, Russia’s top oil producer. ($1 = 0.8125 euros)

Source: Reuters