Colorado’s former governor is board chairman for Russian bank now prohibited from issuing shares, debt in U.S.

The Credit Bank of Moscow, where Bill Owens serves on the supervisory board, is owned by investors and not the state and is one of Russia’s largest banks

Jesse Paul
The Colorado Sun
Former Colorado Governor Bill Owens, right, joins former state treasurer Walker Stapleton in courtside seats to watch the first half of an NBA basketball game Thursday, Jan. 17, 2019, in Denver.
David Zalubowski/AP

Former Colorado Gov. Bill Owens is the chairman of the supervisory board of the Credit Bank of Moscow, which has been barred by the Biden administration from issuing shares and debt in the U.S. after the Russian invasion of Ukraine.

The Credit Bank of Moscow is owned by investors and not the state. It is one of Russia’s largest banks.

Owens, a Republican, told The Colorado Sun that the bank has no ties to the Russian government and that it’s listed on the Russian stock exchange. He said that he’s not aware of the Credit Bank of Moscow planning to issue shares or debt in the U.S. regardless of the limitations, and he said he has no shares or debt in the bank.

“CBM has thousands of investors, including one of our largest — the European Bank of Reconstruction and Development,” Owens told The Sun in an email. “I represent these independent investors. … Our board has a majority of ‘western’ directors including two Americans, two Germans, as well as individuals from the U.K. and Finland.”

Roman Ivanovich Avdeev is listed as the Credit Bank of Moscow’s “main beneficial owner.” He created Rossium Concern LLC, a holding company that owns 55% of the bank’s shares, and is among the world’s wealthiest people. Avdeev is not among the Russians personally sanctioned by the U.S. and other nations.

Read more via The Colorado Sun.

Support Local Journalism

Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.