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Date: 3 months ago   Category: Companies

Kostin: if the USA continues to use dollar as weapon, we will inevitably see a withdrawal tendency from him


Andrey Kostin.
It the president — the chairman of the board of VTB has said in an interview to Bloomberg TV. According to his assessment if such tendency remains, then on refusal of the American currency about 20 years Andrey Kostin will be required. Photo: Sergey the President — the chairman of the board of VTB Andrey Kostin has given to Skates/TASS an interview of Bloomberg TV in which, in particular, I have spoken sanctions. — Mister Kostin, thank you that have found time to have a talk with us. We will begin with the bill which is now discussed in the USA. One senator called him "infernal". Your bank also is mentioned in this bill. Whether VTB and the Russian financial system in general will sustain these new sanctions? — Meanwhile early about it it is to speak, as far as I understand, only about the bill. And the offer about which you speak concerns not all Russian banks but only one or two. Perhaps, it won't concern any bank at all. We will look. It seems to me, this bill hasn't been approved by any of chambers yet so so far early to do some forecasts. But we, undoubtedly, prepare for any turn of events. I consider that with assistance of the Central Bank of the Russian Federation the Russian banking sector is able to cope with these new sanctions. But in sanctions, anyway, there is nothing good. It is the wrong approach. New sanctions will lead only to the next round of tension in the relations between the USA and Russia, and it is only possible to regret for it. — You have told that you prepare. How exactly? What do you plan to do? Who is engaged in it? — I won't reveal all plans now — on that they and plans. But we have a number of measures which will allow us to protect our clients, our investors. I repeat, with assistance of the government and the Central bank we are able to cope with a situation. — That is the Central bank and the Ministry of Finance work with banks? — Yes, of course. We conduct negotiations with them. — What waits for clients of VTB who have deposits in foreign currency if operations in the American dollars appear under a ban? — I won't comment on it. It is just a part of the plan. — Whether clients will be able to receive the money? — I am convinced that all clients of all banks will be able to receive the money back. It is the basic moment. As it will be made in what currency is already other question. — After the text of this bill has been published, clients of Sberbank have started removing funds from dollar accounts. Similar happened in VTB? — No, actually we don't observe the increased removal of money. At the moment we have all as usual. — It seems to me, investors aren't really sure now that VTB will cope with sanctions. I tell it on the basis of the quotations of your actions which have fallen to the lowest level for the last four years. Don't you agree with them? They are mistaken? — It seems to me, there are two main fears. First, of course, investors feel concern about all developing countries in general. It is not only about Russia, but also about Turkey, Brazil and other countries. Even about China and India. Secondly, concerning Russia a situation д

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