Gazprombank has decided to close its London office

Gazprombank closes its office in London, the Financial Times writes with reference to the documents that the Bank sent to companies house in the UK.

The publication notes that the application to exclude it from the register of legal entities Gazprombank has sent to companies house on 18 December last year.

According to Financial Times, this happened 18 months after the U.S. and the European Union made the Bank in the sanctions list.

Gazprombank has opened an office in London in 2006, with plans for an IPO. In preparation for the IPO of the German Dresdner Bank had to buy one-third of Gazprombank for $800 million But the deal was terminated, at Gazprombank, said that the German Bank offered is not sufficient, writes the edition BNE Intellinews.

The activities of the London office of Gazprombank has been virtually frozen since 2012, when the credit institution was unable to obtain a license to work in the market of investment banking services in London. The controller then stated that he will not issue a permit without additional information to shareholders of the company.

Sanctions against Gazprombank were introduced in July 2014. For him there are restrictions on loans to European and American market for a period of more than 30 days.

In may last year, Bloomberg wrote that placed under sanctions Russian company since the fall has paid over a million dollars in American companies, liberalsim laws in Washington, including Congress and the applicable restrictions. In particular, the Agency was informed that the Gazprombank had paid $450 thousand for 9 months 2014-2015 company Squire Patton Boggs, which employs former Senate majority leader Trent Lott and former Senator from Louisiana John Breaux. On the basis of documents from the Agency indicated that the firm receives from Lotta Gazprombank twice what he received a year of work in the U.S. Senate.