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. Last Updated: 07/27/2016

American Express opens in Petersburg

ST. PETERSBURG-The American Express Co. opened a full service St. Petersburg office Monday in the newly renovated Grand Hotel Europe.

The new branch will offer standard card-member services such as bookings, airline and hotel reservations and currency exchange, according to James

Kober, general manager and company vice president. However, the company will only cash travelers checks for rubles in light of the cash crunch plaguing Vneshekonombank, American Expres's current partner.

As of July 1, Dialog Bank, a U. S. joint venture, will move into American Expres's Moscow office, replacing Vneshekonombank. A similar move is expected in St. Petersburg by September, Mr. Kober said.

American Express also plans to introduce automatic teller machines for cash and traveller's checks. It has applied for a license to the International Air Transport Association to issue airline tickets.