MOSCOW, September 16 (RIA Novosti) - The...
with Russia"s customs service, that court costs would be paid in the case.The U.S. paper also said the bank had agreed to resume lending and plans "a $400 million trade-finance facility" to be available to Russian state banks to help fund imports and exports, which would run for five years.
Russia"s Federal Customs Service filed the lawsuit in Moscow in May 2007 following a U.S. Justice Department investigation in which a Bank of New York vice president allegedly helped to transfer $7 billion out of Russia in the late 1990s. The bank has fired several staff responsible for the Russian money transfers.
The settlement talks have been on and off since the spring.
Russian business daily Kommersant said in March citing a Russian government source that the Russian customs authorities were ready to drop the lawsuit in exchange for an $800 million compensation settlement.
The discussions seemed to stall in the late spring and early summer, according
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