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Kostin described the access to the Crimea disastrous for VTB

Костин назвал выход в Крым гибельным для ВТБ

The output of the VTB in the Crimea will entail sanctions that will be disastrous for the Bank. On Friday, June 24, said the President of the credit organization Andrey Kostin, reports TASS. According to him, the sanctions that will be imposed on VTB in this case, will be 10 times harder today.

“They will mean that all our assets abroad will be arrested, all accounts are blocked. VTB as an international group does not hold any foreign account. Shirt tear on the body, but I can’t work without this we will not be able, as the dollar is our main currency”, — quotes Agency of his word.

In late may, the head of Sberbank German Gref said that Sberbank intends to return to Crimea immediately after the easing of sanctions against Russia. According to him, in this case, the Bank will begin the work in the region.

Limitations under the United States and the EU are Sberbank, VTB, Gazprombank, Vnesheconombank, Rosselkhozbank and Bank of Moscow. Credit organizations are unable to attract long-term credits to American and European financial markets. Most of the leading credit institutions of Russia do not work in Crimea in 2014.

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