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EBRD officials to be investigated by Russia and UK

UK police and Russian authorities are investigating alleged criminal activities of four Russian officials assigned to the European Bank for Reconstruction and Development (EBRD).

The bank said that it had lifted the immunity of the officials who "either work or have worked at the EBRD".

Russia's government said that Yelena Kotova had been dismissed from her position as the EBRD's board member.

She has been a member of the board since 2005.

The Russian economy ministry said that she had been "released from her responsibilities" after an internal EBRD investigation into possible breaches of the bank's code of conduct by her and three other officials.

The EBRD said that all four officials "worked at the EBRD in their capacity as representatives of the Russian government, a shareholder of the EBRD and one of its Countries of Operations".

The London-based EBRD was establishment in 1991 to provide financial support to former communist countries in order for them to become market economies.

The bank is owned by 61 countries, the European Union and the European Investment Bank.

Russia is a shareholder of the EBRD and one of its countries of operation.

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