This week in photos: Putin’s binoculars, Macron's hug and Berlin’s welcome for UK heirsSociety & Culture July 21, 17:43
Putin discloses his code name at intelligence schoolSociety & Culture July 21, 17:39
Putin says life, love and freedom are his core valuesSociety & Culture July 21, 17:06
Crimean border guards rescue drowning Ukrainian who swam from Ukraine to TurkeyWorld July 21, 16:59
Putin doesn't rule out running in 2018 presidential raceRussian Politics & Diplomacy July 21, 16:56
Russian Helicopters deliver Mi-171E convertible helicopter to PakistanMilitary & Defense July 21, 16:50
Putin confesses he doesn’t use social networksSociety & Culture July 21, 16:44
Siemens examining all Russian partners for compliance with export standardsBusiness & Economy July 21, 16:36
Kremlin spokesman calls sale of alleged Putin’s watch for 1 mln euro ‘successful trick’Society & Culture July 21, 16:29
MOSCOW, October 1. /TASS/. Russia’s Vneshtorgbank (VTB) has reduced the amount of lending in US dollars, VTB head Andrey Kostin said on the sidelines of the forum Russia Calling on Wednesday.
“In general, we are trying to avoid extending dollar loans in order to de-dollarize the economy. This is right. Many businesses prefer to borrow dollars not because they need them, but because the currency looks less expensive. But in doing so, they assume currency risks without having dollar incomes. And this is wrong,” he said.
Kostin said that hard currency loans should be available only to importers or those who really need them.
VTB Bank, Russia’s second largest bank by assets, expects to raise funds from the Central Bank of Russia to refinance its foreign exchange liabilities, Kostin said on Wednesday
“So far, we are not experiencing (a shortage of foreign exchange liquidity). Possibly, the population will switch from rubles to US dollars and this will also add foreign currency to the banking sector,” the VTB head said.
The VTB CEO said the bank was counting on funding from the Central Bank of Russia in the current situation to refinance its foreign exchange liabilities.