Congress is looking into Deutsche Bank’s loan to russian VTB

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Deutsche Bank AG, seeking to slash its exposure to russia in late 2016, scrambled to shed a $600 million loan it had outstanding to VTB Group, a large russian state-owned bank, according to documents and people familiar with the funding, The Wall Street Journal reports.

The German lender sold $300 million of the loan to another russian financial institution, Alfa Bank, in December 2016; Deutsche wasn’t able to sell the rest of the loan, and VTB paid it back in August 2017, the documents show.

VTB said that was a standard loan, but the Congress has decided to look closely into this story, given Donald Trump’s long-term relationship with Deutsche Bank. At the same time, the latter in 2016 refused to issue a loan to a company that owns the president’s real estate in Florida. 

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