During negotiations in Vienna Pridnestrovian Diplomacy Is Determined to Give New Impetus to Resolution of Urgent Problems in the Banking Sphere


Political representative in the Pridnestrovian settlement from Pridnestrovie Nina Shtanski intends to raise the issue of barriers impeding adequate functioning of the banking system of Pridnestrovie. Restrictions existing in this sphere in the course of several years will be the subject of a special report of the Pridnestrovian side which is planned to be voiced today at the Permanent Conference meeting in Vienna.

Pridnestrovian diplomats expect to discuss the possibility of adopting decisions which could lessen negative consequences of unilateral steps so that to be able to build the framework for cooperation in economic and banking sphere.

Blocking measures in relation to the Pridnestrovian banks were undertaken by Moldova back in 2003, 2004, 2005 and 2009. The number of restrictive measures in relation to Pridnestrovian banks is still in effect today. Such situation puts significant pressure on gold and currency reserves of the state and results in everyday financial losses by Pridnestrovian economic entities.

The Ministry of Foreign Affairs undertook necessary measures at the diplomatic level in order to minimize damage to economic entities. However, no due effect was achieved. In these circumstances the Pridnestrovian side considers it important to inform all participants of the 5+2 format about existing difficulties in the banking sphere.  

Pridnestrovian MFA views actions of Moldova in the banking sphere as deliberate creation of obstacles to appropriate functioning of the financial system of Pridnestrovie. The foreign political office of Pridnestrovie believes that these measures are fundamentally counterproductive and aimed at bringing to naught joint efforts on building the climate of trust between the sides. Apart from that, unfair use of financial instruments contradicts earlier signed agreements of the negotiation process between the sides. According to the Pridnestrovian diplomats, such actions are undertaken by Moldova to make Pridnestrovie occupy tougher stance in negotiations.

Solution of the problems in the banking sphere can be found through establishment and approval of a complex, mutually acceptable and stable mechanism of relations between central banks of Pridnestrovie and Moldova. The basis for this mechanism can be Memorandum “On Mutual Understanding between Central Bank of Pridnestrovie and National Bank of the Republic of Moldova”. Draft Memorandum will be forwarded today in Vienna.

This agreement will allow stabilizing the functioning of the banking sphere and will open up prospects for increasing economic welfare and implementation of joint projects in real sector of economy.

PMR's MFA believes that settling contradictions in the banking sphere between Kishinev and Tiraspol can become the basis for progress in more scaling issues of the socio-economic character.