Russian Banks To Continue Developing, Working Abroad Despite US Sanctions – VTB Bank Head

Russian banks will continue developing and actively working abroad despite US sanctions, Russia‘s VTB BankPresident Andrey Kostin said on Monday. “Despite geopolitics, our banking industry is alive. Our banks are developing, and despite the fact that they are probably one of the main targets of the Russophobic group in the United States, our banking development is guaranteed … Of course, Russian banks will continue working both in Russia and abroad,” Kostin said at the opening ceremony of the academic year at Moscow State Institute of International Relations.

Last week, Moody’s Investors Service said that potential US sanctions against Russian state-owned banks were unlikely to cause a system-wide banking crisis in the country. (Read more…)