MOSCOW, July 22 (Reuters) – President Vladimir Putin handed Russian citizenship to fuel producer Novatek’s veteran finance chief Mark Gyetvay on Monday, a transfer that would doubtlessly assist the U.S. nationwide bypass some sanctions restrictions.
U.S. sanctions imposed on Russia in 2014 ban U.S. nationals and corporations from serving to organise long-term funding for some main Russian companies, together with Novatek.
The sanctions have been imposed following Moscow’s annexation of Ukraine’s Crimea peninsula and assist for pro-Russian separatists in japanese Ukraine.
When the U.S. and the EU imposed sanctions on Russia, executives with international passports at corporations affected together with Novatek – the nation’s largest non-state pure fuel producer – and state financial institution VTB handed over duty for organising new debt or fairness issuance to colleagues with out EU or U.S. passports.
Gyetvay, who has been Novatek’s chief finance officer since 2003, acknowledged again in 2014 that he might not assist his firm increase new long-term financing.
U.S.-born Gyetvay was awarded Russian citizenship in a presidential decree printed on the Kremlin’s web site on Monday. Putin has beforehand granted citizenship to another Western nationals working in prime positions at Russian corporations.
Gyetvay declined to touch upon the decree. (Reporting by Vladimir Soldatkin and Maria Grabar; Writing by Tom Balmforth; Enhancing by Katya Golubkova and Susan Fenton)