March 23, 2017 / 10:44 AM / 5 months ago

Russia will ease rules for state banks hit by new Kiev sanctions - central bank

MOSCOW, March 23 (Reuters) - The Russian central bank confirmed on Thursday it would give state banks a three-year extension to set aside provisions needed to cover for potential losses after a new round of sanctions by Ukraine.

In a statement, the bank said it had taken the step due to the "emergency situation resulting from the decision by Ukraine in relation to the subsidiaries of Russian banks."

Reporting by Kira Zavyalova,; writing by Alessandra Prentice, editing by Denis Pinchuk

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