The Russian government is considering the establishment of a new state Bank to Finance defense spending. This writes Bloomberg, citing sources.

This idea arose in connection with a new SMSA sanctions against the aggressor country. According to the law, American citizens and companies may be subject to additional sanctions if they will be doing business with the Russian military or intelligence.

Bloomberg notes that the cost of the Russian Federation on military construction and the defense rose to date up to 20 trillion rubles. These funds are spent on new planes, ships, missiles and other weapons. About 90% of loans to Russian defense companies provide the state savings Bank and VTB. Last year, these financial institutions have issued about 197 billion rubles ($3.4 billion) of loans.

Despite the opportunity to attract financing from these banks are already constrained, the new sanctions provide a broader restrictions, including blocking access to the U.S. financial system, writes Bloomberg.

The press service of the Ministry of Finance of the aggressor, and the state-owned banks declined to comment on the situation.

Russia wants to create a new state Bank to Finance the military-industrial complex – Bloomberg 13.09.2017

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