Russia’s Sberbank guarantees Safmar oil companies financing of operations
MINSK, Jul 9 - PrimePress. Sberbank of Russia has issued guarantees to oil companies of the Safmar Group to finance trade operations related to crude oil procurement.<br> <br> “We hereby inform that Sberbank has approved the limits for continuing to finance the traders for making prepayments in favor of Oil Technologies LLC [owns 92% of Afipsky Oil Refinery and is a member of the Safmar Group] for supplies of oil products of the Afipsky Oil Refinery LLC,” Sberbank says in the letter addressed to Neftisa, Forteinvest and Oil Technologies of the Safmar Group.<br> <br> The bank is also ready to approve funding for traders to make prepayments for oil in favor of Neftisa Group and for oil products in favor of Forteinvest to supply oil products produced at the Orsknefteorgsintez Refinery on requests.<br> <br> Safmar Group combines assets of the Gutseriev family and partners. In June, the European Union put Mikhail Gutseriev on its sanctions list against Belarus for support he provides to President Alexander Lukashenko. The sanctions provide for freezing of his assets and bans his entry into the EU.<br> <br> Mikhail Gutseriev previously chaired the Board of Directors of RussNeft, being one of its major beneficiaries. He is not listed in the RussNeft equity. Gutseriev decided to step down as chairman of the Board of Directors of RussNeft in late June 2021 shortly after the EU sanctions were imposed. End<br> <br>
2021-07-09
Primepress
Russia’s Sberbank guarantees Safmar oil companies financing of operations
“We hereby inform that Sberbank has approved the limits for continuing to finance the traders for making prepayments in favor of Oil Technologies LLC [owns 92% of Afipsky Oil Refinery and is a member of the Safmar Group] for supplies of oil products of the Afipsky Oil Refinery LLC,” Sberbank says in the letter addressed to Neftisa, Forteinvest and Oil Technologies of the Safmar Group.
The bank is also ready to approve funding for traders to make prepayments for oil in favor of Neftisa Group and for oil products in favor of Forteinvest to supply oil products produced at the Orsknefteorgsintez Refinery on requests.
Safmar Group combines assets of the Gutseriev family and partners. In June, the European Union put Mikhail Gutseriev on its sanctions list against Belarus for support he provides to President Alexander Lukashenko. The sanctions provide for freezing of his assets and bans his entry into the EU.
Mikhail Gutseriev previously chaired the Board of Directors of RussNeft, being one of its major beneficiaries. He is not listed in the RussNeft equity. Gutseriev decided to step down as chairman of the Board of Directors of RussNeft in late June 2021 shortly after the EU sanctions were imposed. End