Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Sberbank Funds VBI

VIENNA — Sberbank will provide up to 300 million euros ($394 million) in fresh capital for its new VBI Eastern European arm this year to finance expansion, VBI chief executive Friedhelm Boschert said Tuesday.

He also said VBI made a profit in the first quarter after posting losses last year.

VBI's current three-person management board was confirmed for three-year terms. Sberbank is adding corporate finance expert Maria Bykova and strategy man Valentin Mihov to senior VBI management, the bank said. Austrian businessman Siegfried Wolf is supervisory board chairman, and Sergei Gorkov is deputy chairman of VBI.


Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.