Prime minister of Russia, Vladimir Putin, approved the project in intergovernmental agreement with Venezuela on the creation of the Bank Russian-Venezuelan.

“To entrust the Ministry of Finances to maintain, jointly with bank VTB (Outer Commercial bank) and Gazprombank, the conversations with the Venezuelan part and to sign in the name of the Government of Russia the corresponding agreement”.

The agreement project, previously agreed with Venezuela, stipulates that the binational bank will be based like joint-stock company according to the Russian legislation, and will have his soothes in Moscow and a branch in Venezuela. The bank also will be able abrir to branches in third parties countries.

The binational bank will serve to the corporative clients and will give to priority to the financing of the projects in Russia and Venezuela in the industry of petroleum and gas, electrical sector, mining, mechanical metallurgy, infrastructure, constructions and petrochemical industry.