Information Message on the Results of Investing Funds of the Reserve Fund and the National Wealth Fund

2 december 2015 года
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Russia’s Finance Ministry hereby informs about the results of investing funds of the Reserve Fund and the National Wealth Fund from January 1 to November 30, 2015.

The Reserve Fund

In November of 2015, in accordance with the Federal Law dated December 1, 2014 № 384-FZ “On the Federal Budget for 2015 and for a planned period of 2016 and 2017” and in accordance with Order of the Russian Finance Ministry dated July 17 2015 № 216 “On Using Financial Resources of the Reserve Fund in Foreign Currency to Fund the Federal Budget Deficit in 2015,” a part of the financial resources of the Fund in foreign currency from the Bank of Russia’s accounts in the amount of 2.39 billion US dollars, 2.22 billion euros and 0.35 billion pounds sterlings were sold for 350.00 billion rubles and the funds received were transferred to the unified account of the federal budget to cover its deficit.

As of December 1, 2015, the aggregate amount of the Reserve Fund was 3 931.08 billion rubles which is equivalent to 59.35 billion US dollars. The amounts of balances in separate accounts to record funds of the Reserve Fund were:

  • 27.23 billion US dollars;
  • 24.39 billion euros;
  • 4.11 billion pounds sterlings.

The aggregate calculated income from placing funds of the Reserve Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to November 30, 2015 was 0.16 billion US dollars, which is equivalent to 9.7 billion rubles. The exchange rate difference from recalculating balances of funds in the said accounts for a period from January 1 to November 30, 2015 was 495.59 billion rubles.

The National Wealth Fund

In November of 2015, in accordance with Resolutions of the Russian Government dated January 19, 2008, № 18 and dated November 5, 2013, № 990, financial resources of the National Wealth Fund in the amount of 75.00 billion rubles were placed in the bonds of OJSC Yamal in quantity of 1 156 206 bonds, with par value of one share being 1000 dollars in order to fund an infrastructure project «Construction of a Gas Production and Treatment Integrated Facility and a Liquefied Natural Gas Plant as well as Liquefied Natural Gas and Gas Condensate Shipping Facilities of the South Tambey Gas Condensate Field in the Yamal Peninsular”, which was provided for by para 6 of the List of infrastructure projects to be implemented by legal entities in financial assets of which financial resources of the National Wealth Fund and (or) pension savings under the trust management of a state managing company are placed on a redeemable basis. The List was approved by Executive Order of the Russian Government dated November 2013, № 2044-r.

In November of 2015, Bank VTB purchased OJSC RZHD’s shares with a total par value of 15.20 billion rubles through using financial resources of the National Wealth Fund earlier placed on the subordinated deposit in order to fund an infrastructure project “Purchase of a Traction Rolling Stock” provided for by para 10 of the said List.

As of December 1, 2015, the aggregate amount of the National Wealth Fund was 4 784.05 billion rubles which is equivalent to 72.22 billion US dollars including:

1) In separate accounts to record funds of the National Wealth Fund with the Bank of Russia:

  • 20.45 billion US dollars;
  • 21.50 billion euros;
  • 3.95 billion pounds sterlings;

2) 195.03 billion rubles and 6.25 billion US dollars were deposited with Vnesheconombank.

3) under an individual decision by the Russian Government 3.00 billion US dollars were placed in debt instruments of foreign states without placing demands on long-term credit ratings.

4) in bonds of Russian issuers related to implementing infrastructure projects, a list of which is approved by the Russian Government – 112.63billion rubles and 2.36 billion US dollars;

5) in preferred shares of credit institutions – 278.99 billion rubles;

6) on deposits of OJSC Bank VTB and Bank GPB (JSC) in order to fund infrastructure projects a list of which is approved by the Russian Government - 164.43 billion rubles.

The aggregate calculated income from placing funds of the National Wealth Fund in foreign currency accounts of the Bank of Russia recalculated in dollars for a period from January 15 to November 30, 2015, was 0.11 billion US dollars, which is equivalent to 7.29 billion rubles. The exchange rate difference from recalculating monetary resources of the Fund from January 1 to November 30, 2015 was 405.40 billion rubles including:

  • balances in foreign exchange accounts with the Bank of Russia – 306.49 billion rubles;
  • funds deposited with Vnesheconombank in US dollars – 62.42 billion rubles;
  • funds placed in debt instruments of foreign states without placing demands on long-term credit ratings –29.94 billion rubles.
  • foreign-currency denominated bonds of Russian issuers related to implementing infrastructure projects, a list of which is approved by the Russian Government – 6.55 billion rubles.

The aggregate income from placing financial resources of the Fund on authorized financial assets with the exception of accounts with the Bank of Russia from January to November of 2015 amounted to 44.32 billion rubles which is equivalent to 0.72 billion US dollars.

Indicators of the aggregate amount of the Reserve Fund and the National Wealth Fund as well as of calculated incomes (losses) from placing funds of the Reserve Fund and the National Wealth Fund were calculated on the basis of official exchange rates of foreign currencies set by the Bank of Russia as of the date prior to the reporting date and of cross rates calculated on the basis of the said exchange rates.

Detailed statistics on transactions with funds of the Reserve Fund and the National Wealth Fund is posted on the Internet site of the Russian Finance Ministry in the following sections: “The Reserve Fund” and “The National Wealth Fund” in appropriate subsections in Russian and English, the statistics is updated on a regular basis.


Origin: Press Service of Russia’s Finance Ministry

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Vnesheconombank Fulfills Its Obligations Under Domestic Series BO-02 Bonds Put Offer

30 november 2015 года
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State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” on November 30, 2015 fulfilled its obligations to purchase bonds from investors in the course of the put offer under its RUB 9 billion Series БО-02 exchange bonds issue.

Under the current put offer Vnesheconombank bought 5 306 835 bonds with the total par value of RUB 5 306 835 000.

The coupon rate of the bonds was set at 11,20 % per annum till the next put offer in one year.

Arrangers of the БО-02 exchange bonds put offer and secondary placement are REGION Broker Company and VTB Capital.


Press Office of VEB
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank, JSC EXIAR (VEB Group) and the Central Bank of the Islamic Republic of Iran (CBI) sign a Memorandum of Understanding

25 november 2015 года
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In the course of the Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) member countries in Teheran and in the Presence of Russian President Vladimir Putin and Iranian President Hassan Rouhani, Vnesheconombank, JSC EXIAR (VEB Group) and the Central Bank of the Islamic Republic of Iran (CBI) signed a Memorandum of Understanding.

Under the Memorandum, the parties are to cooperate in implementing Russian-Iranian export projects and in expanding a list of services and instruments in supporting exports.

In order to increase Russian exports to Iran, Vnesheconombank is exploring the possibility of providing up to 2 billion euros under JSC EXIAR’s insurance coverage.

The parities are to place particular emphasis on supporting projects in such industrial sectors as power engineering, shipbuilding and aircraft industry.

The Memorandum is to be implemented in accordance with standards of national and international law.


Press Office of VEB
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank ready to explore the possibility of funding projects in Iran

24 november 2015 года
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In the course of the Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) member countries in Teheran, Vnesheconombank, Stroytransgaz company (OJSC STG) and Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) entered into a Memorandum of Understanding.

Under the Memorandum, the parties intend to explore the possibility of implementing jointly a number of projects in the Islamic Republic of Iran. The projects provide for designing and constructing an anode petroleum coke plant with a capacity of 250 thousand metric tons as well as a plant to manufacture alumina from nepheline syenites with a capacity of 200 thousand metric tons.

The Memorandum is being implemented in accordance with standards of national and international law.

Stroytransgaz Group of Companies is an international diversified construction holding, one of the leaders of the Russian market. The companies operating under the brand Stroytransgaz have been implementing major industrial and civil construction projects in Russia and abroad for more than 20 years. The strategic directions of the Group’s activities are associated with the construction of objects in the power, oil and gas and petrochemical industries, transport infrastructure, including road and railway construction, as well as in the field of industrial ecology. STG’s main markets are located in 19 world countries including countries of the Middle East, North Africa, Europe and Asia.

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) is Iran’s leading holding company in the mining sector. It focuses on manufacturing steel, aluminum, copper, cement and on mineral production. It also participates in projects on the construction and reconstruction of industrial facilities.


Press Office of VEB
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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Vnesheconombank makes presentation of Vnesheconombank Group’s report on sustainable development for 2014

23 november 2015 года
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In the course of public hearings, VEB made a presentation of Vnesheconombank Group’s report on sustainable development for 2014. Vnesheconombank already became the winner of the Annual Report Competition in the category “Best Report on Corporate Social Responsibility and Sustainable Development” organized by Moscow Exchange and Stock Market Media Group and received a Gold Award in the MarCom Awards 2015 International Competition. The Report was presented to more than 50 participants of the Russian business community.


Vnesheconombank has prepared reports on sustainable development since 2009. As part of implementing this voluntary initiative the Bank published six non-financial reports, the last four of which consolidate information on the performance of all Vnesheconombank Group’s institutions in sustainable development. Reports are prepared in accordance with a leading international standard – Global Reporting Initiative Sustainability Guidelines. In 2015, the Bank transferred to a new revision of GRI-G4.

In the course of the hearings their participants discussed issues related to Vnesheconombank’s contribution to addressing issues of the country’s socio-economic development and to further integration of sustainable development principles in its development. The participants also voiced recommendations on disclosing information of the greatest interest for interested parties in the Bank’s non-financial reports. The participants’ recommendations are to be taken into account upon developing a concept of the Group’s next report for 2015 to improve the quality of the Bank’s non-financial reporting in line with expectations of a wide range of interested parties.


Press Office of VEB
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

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