The economic development Ministry called the actions of the EBRD “discrimination” of Russia

The headquarters of the EBRD

The Minister of economic development Maxim Oreshkin said he believes the position of the European Bank for reconstruction and development (EBRD) in Russia the “ethnic discrimination”. This is stated in a written statement., which will be included in the proceedings of the annual meeting of the Board of governors a financial institution, scheduled for may 10, reports TASS.

“Implementation “of the political leadership of” violating the legal norms, since the agreement establishing the EBRD. In fact it is discrimination. This approach threat the further possibility to arbitrarily interpret the Charter of the Bank and to deprive its members of their shareholder rights against the principle of Bank”, — says Oreshkin.

EBRD curtailed financing of new Russian projects in July 2014 on the background adopted by the European Union sanctions against Moscow. Disposal of the Bank’s management on this topic given the majority of the members of the Board of Directors, including all member States of the EU.

In 2013 financing of projects in Russia through the Bank amounted to 2.5 billion euros. In the first half of 2014, the Russian Federation accounted for over 19 percent of the investment Bank. At the same time, all projects where resources have already been invested, continued to be funded.

On 27 February, the head of VTB Andrey Kostin called the sanctions regime against Russia “madness, which will last another two or three years.” According to him, the cooperation with this structure, as the European Bank for reconstruction and development, stopped for political reasons.

The European Bank for reconstruction and development — investment mechanism, created in 1991 to support market reforms in Eastern Europe. Recipients of aid allocated by the Bank is 35 States of Europe and Central Asia.