OREANDA-NEWS. During the 19th St. Petersburg International Economic Forum, Sberbank of Russia and Caspian Pipeline Consortium-R CJSC signed a cooperation agreement. On behalf of Sberbank the document was signed by Herman Gref, CEO, Chairman of the Executive Board and on behalf of CPC-R - by Nikolay Brunich, General Director of the Consortium.

The document sets out the areas of cooperation in banking, which includes cash and settlement operations, trade and export finance and documentary operations, and also organising a comprehensive payroll project for employees of CPC-R.

The arrangements that have been made will be implemented by Sberbank of Russia's Moscow Bank. In addition, the agreement envisages the provision of financial and advisory services, including those offered by Sberbank CIB1, the corporate and investment banking business of Sberbank.