Stanislav Bagdankevich: The authorities decided not to get into troubles

The use of Iranian assets brings up too many questions to the Belarusian authorities.

This is how the former head of the National Bank commented on the sale of the shares of Iranian Honorbank, BBC reports.

“The use of Iranian capital brings up too many question to official Minsk on the part of international bodies. Apparently, they decided not to get into troubles”, - he said.

At the same time an advisor the head of the bank did not rule out that the Iranian party may later show interest to expanding its cooperation with Belarus in the banking area, buying back the shares of Honorbank or founding a new bank.

We would remind that Honorbank, founded in 2009 in Minsk by Iranian Bank Refah Kargaran, Bank Saderat Iran, Bank Toseeh Saderat Iran, was sold on Tuesday for 5.1 million euro. Analysts in Minsk assume that the bank is changing the shield in order to escape the USA’a sanctions.

The sale deal was registered by Belarusian Currency and Stock Exchange that reported that the shares were sold 25.9% more expansive than the face value. The purchasers of Honorbank are two commercial non-bank structures from Europe and Belarus the data of which is not being made public.

Another bank, founded with Iranian capital in the statutory fund and being under the USA Financial Ministry’s sanctions, keeps working in Minsk – Closed Joint Stock Company Trade Capital Bank. 97% of its shares (according to some reference sources – more than 99%) belong to Bank Tejarat.