LONDON, April 13 Russia has asked for a top
level discussion over the European Bank for Reconstruction and
Development's 2014 ban on new Russia lending at the bank's
upcoming meeting in Cyprus next month, an EBRD source told
Reuters on Thursday.
"There is likely to be discussion at the annual meeting,"
the source, who requested anonymity, said. "It isn't about EBRD
re-engagement in Russia, it is about whether the EBRD was
compliant with its own rules when board directors gave their
The bank's directors gave a "guidance" to halt new
investment in Russia in 2014 following the imposition of Western
sanctions against Moscow for its annexation of Ukraine's Crimea
Russia has already taken the issue to the bank's
London-based board of directors, but by raising it at the annual
meeting it will mean it is discussed by national finance
ministers and central bank heads that act as EBRD 'governors'.
"This has already been discussed once in the board of
directors and it was found the bank was compliant (with its
rules) it is hard to imagine that this situation has changed,"
the source added.
(Reporting by Marc Jones; editing by Sujata Rao)