Russia’s VTB won’t ‘harass’ mining firm Mechel over debts

Photo by Mechel.

The head of Russian bank VTB Andrey Kostin said on Wednesday the lender would discuss a debt restructuring request by mining firm Mechel with its other creditors, Sberbank and Gazprombank.

“No one intends to harass Mechel,” Kostin told reporters on the sidelines of an economic forum in the city of Vladivostok in Russia’ Far East.

Coal and steel producer Mechel, controlled by Russian businessman Igor Zyuzin, has asked its creditors for more time to make its debt repayments.

(By Vladimir Soldatkin, Gabrielle Tétrault-Farber and Polina Ivanova; Editing by Jason Neely)

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