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Ukraine central bank declares Russian VTB subsidiary insolvent

Tue 27th November, 2018 4:49pm
KIEV, Nov 27 (Reuters) - Ukraine’s central bank declared the
Ukrainian subsidiary of Russian state lender VTB  VTBR.MM 
insolvent due to its declining liquidity and worsening financial
position, the central bank said on Tuesday.
    The decision followed VTB's comments that it may be forced
to leave the Ukrainian market because its work there had been
effectively paralysed after a court in Kiev ordered assets
belonging to it to be frozen.
    VTB said the court viewed its assets as Russian property and
that it had frozen them to implement a ruling against Russia at
an international arbitration court in The Hague in September. 

 (Reporting by Natalia Zinets; Editing by Adrian Croft)
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