Bloomberg News

Russia to Increase Compensation for Soviet Sberbank Deposits

December 26, 2009

Russia’s Ministry of Finance plans to provide 85 billion rubles ($2.9 billion) next year to compensate depositors in Sberbank whose accounts were frozen before the Soviet Union collapsed in 1991, Finance Minister Alexei Kudrin said.

Compensation in 2009 will amount to 70 billion rubles, the finance minister told Prime Minister Vladimir Putin in a statement on the government’s Web site today.

To contact the reporter on this story: Stephen Bierman in Moscow sbierman1@bloomberg.net.

To contact the editor responsible for this story: Guy Collins at guycollins@bloomberg.net.


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