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June 30, 2017
EU states split on Commission mandate for Nord Stream 2
Tim Gosling in Prague
Thirteen of the 28 EU member states gave their backing on June 26 to a request from the European Commission for a mandate to negotiate with Russia over the Nord Stream 2 gas pipeline project.
The EU executive is seeking the power to deal with Moscow on the controversial project, a
Russian state lender VTB axes 40 London bankers as losses mount
Jason Corcoran in Moscow
VTB has axed 40 jobs from its struggling invest- ment banking unit in London as losses mount amid speculation the Russian state lender could exit the UK altogether, bne IntelliNews can reveal.
The bank, which has been sanctioned by the EU and US over the Russia’s annxatuon of Crimea
The commission has struggled to find legal objections to the Nord Stream 2 project.
request that was discussed at a meeting of EU energy ministers. With Germany leading a group of countries whose companies are taking part in building the 55bn cubic metre a year (cm/y) route in supporting the project, the commission has
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VTB's London unit reported post-tax losses of $9.6mn in 2016.
and its military support for the separatists in the Ukrainian conflict, said its UK operation is continuing to stack up losses.
VTB Capital Inc, the London subsidiary of parent
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