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EBRD to weigh suspending access to resources for Russia, Belarus -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The European Bank for Reconstruction and Development’s headquarter can be seen in London (Britain), November 22, 2016. REUTERS/Stefan Wermuth

LONDON (Reuters), – On Friday, the European Bank for Reconstruction and Development stated that Russia and Belarus would be able to access its resources. It also considered other responses in response to Russia’s invasion.

“Shareholder representatives agreed with the Bank’s management to take steps in response to the crisis, including the possibility of suspending or modifying Russia’s and Belarus’s access to Bank resources,” the bank said in a statement.

According to the statement, bank governors will make final decisions.

After Moscow annexed Crimea and the EBRD put no new money in Russia, 2014. After the country’s 2020 elections, the lender placed a moratorium against new investments in Belarus.

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