Gazprom, UniCredit Austria Ink €300 Million Loan Deal

The agreement was signed by Andrei Kruglov, Gazprom Vice Chief of the Board, and Mikhail Alexeev, UniCredit Bank Austria Chief of the Board, during the St. Petersburg International Economic Forum.

Russia’s Gazprom and UniCredit Bank Austria reached an agreement on a €300 million four-year loan during the St. Petersburg International Economic Forum, the gas-producing company said in a statement.

The agreement was signed by Andrei Kruglov, Gazprom Vice Chief of the Board, and Mikhail Alexeev, UniCredit Bank Austria Chief of the Board.

UniCredit Banks Austria is part of UniCredit financial group. As of December 2014, the banking group held assets of €844 million. Its global network is represented in nearly 50 countries across the world and includes 8,500 offices.

On December 5 2014, Gazporm announced a €390 million loan agreement with UniCredit.

Currently, Gazprom is one of the companies on the US anti-Russian sanctions list. American companies are not allowed to supply goods and technologies for Russian deep water, Artic shelf and shale gas projects. Gazprom’s subsidiary Gazprom Neft is under sanctions imposed by the US and the European Union. Currently, its access to foreign investments is seriously restricted.