EBRD rejects Russian challenge on investment freeze

[May 10, 2017]  NICOSIA (Reuters) - The European Bank for Reconstruction and Development said on Wednesday its shareholder governments had rejected a complaint by Russia that the bank's ongoing investment freeze in the country had breached internal EBRD rules.

EBRD President Suma Chakrabarti speaks during the Annual Meeting and Business Forum of European Bank for Reconstruction and Development's (EBRD) in Nicosia, Cyprus May 10,2017. REUTERS/Yiannis Kourtoglou

The bank's President Suma Chakrabarti added the decision was "final and binding" and that there had been no discussion by the bank's decisionmakers on what it would require for the bank to restart investments in Russia.

There was no discussion at the meeting about what it would take to restart investments in Russia, the bank added.

(Reporting by Marc Jones; editing by Sujata Rao)

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