Russia and Venezuela are setting up a joint bank
Russia and Venezuela signed an agreement establishing a joint bank with an authorized capital of up to 4 billion U.S. dollars some days ago. The document was signed by the outcome of the negotiations that were conducted between the Prime Minister of the Russian Federation Vladimir Putin and the Venezuelan Vice President Ramón Alonso Karrisalesa, when the latter visited the capital of the Russian Federation Moscow the day before the negotiations.
As Deputy Finance Minister Dmitry Pankin explained to reporters the bank will be established on the basis of Eurofinance-Mosnarbanka. Its current shareholders have agreed to assign part of their shares in favor of Venezuela.