Russian state bank "Novikombank" said it had become the country's first bank to open an office in Cuba as part of strengthening economic ties between the former Cold War allies, Reuters reported, citing BTA.
The Russian state bank said in a statement that Cuba's central bank issued it a license on June 7. There was no immediate comment from Cuban authorities or the central bank.
"The opening of a representative office of "Novikom" in the Republic of Cuba is not only a new stage for the bank, but also an important step in Russian-Cuban relations", stated the chairwoman of the board of directors, Elena Georgieva.
Following Russia's invasion of Ukraine, Moscow's already warm relationship with the communist-ruled Caribbean nation has strengthened to a "strategic partnership," with a number of possible investment projects in the fields of sugar, transport and energy currently under discussion, Reuters points out.
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Last week, a Russian navy frigate and a nuclear submarine docked in Havana, a move seen as a show of force by Moscow amid tensions with the West over the conflict in Ukraine, Reuters notes.