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The head of VTB said about the threat of Russian banks abroad

Глава ВТБ заявил об угрозе российским банкам за рубежом

The head of VTB Andrei Kostin believes that Russia’s banks abroad will try to cause damage. He stated this during the St. Petersburg international economic forum (SPIEF), said on Saturday, June 18, TASS.

According to the banker, now in the Russian financial institutions overseas use a rather rigid approaches. Kostin believes that attempts to cause damage to the banks will be associated with the anti-Russian sanctions the EU and the US. How the West can harm the credit institutions, the head of VTB said.

Thursday, June 16, at the session of the “Business twenty” SPIEF Kostin called restrictive measures against Russia of “economic war.” The banker stressed that in such a situation, neither of which financial cooperation with Western countries could not be considered.

The US and the EU imposed sanctions against Russian banks after the annexation of Crimea to Russia in March 2014. One of the first financial institutions to which applied such measures, became the Bank “Russia”, whose largest shareholder is businessman Yury Kovalchuk. Payment systems Visa and MasterCard blocked card operations of the organization and its 100-percent “daughter” of “Sobinbank”.

Sanctions policy of the EU and US against Russia include visa restrictions for some citizens, the economic sanctions imposed on a number of state companies in the oil, defense and financial

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