Ireland Has Struck off Companies that Raised Billions for russian Banks

Ireland has forcibly struck off  a number of companies that previously used to raise billions of dollars for russian banks and state-owned corporations. The reason for this was that after the start of the full-scale war against Ukraine, local managers left the boards of directors en masse, leaving the companies without management.

Among the closed structures – VTB Eurasia, which placed $2.25 billion in bonds for VTB; Transregional Capital, which lent to Transcapitalbank, included in the OFAC sanctions list; Sovcom Capital, issuer of Sovcombank bonds worth $600 million;  and OIM ABS, a subsidiary of Qiwi Bank.

The closure has also affected infrastructure giants. RZD Capital, created to finance RZD,  placed $6.7 billion in securities. VEB has  also lost its “Irish subsidiary”: its VEB Finance raised $30 billion through bonds.