Until last autumn, Nikolay Kosov headed the International Investment Bank, which is leaving Hungary. According to documents obtained by Direkt36, the Russian banker, who has since been hit by US sanctions, was planning to transfer his family’s assets to Dubai.
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Bracing for US sanctions, Russian financier in Budapest was busy securing personal offshore assets, leaked documents reveal
Before the Hungarian government exited the Russian bank, it was helped out by a government-close financial institution
According to internal documents obtained by Direkt36, OTP closed the accounts of the International Investment Bank after the outbreak of the war. Followingly, the Russian-dominated financial institution turned to the government-close MKB to open a new account.
Continue readingPutin-controlled financial giant has close ties to IIB, the Russian-led bank moving to Hungary
The International Investment Bank, which is about to move its headquarters to Hungary, has been in close contact with VTB, Russia’s second largest bank.
Continue readingViktor Orban’s government has become an enthusiastic partner in Russia’s financial expansion
Vladimir Putin resurrected the International Investment Bank a few years ago to increase Russia’s influence in Central and Eastern Europe. Hungary has become one of the most active investors of the financial institution.
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