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VTB CEO believes situation with shot down Su-24 won’t affect Russian-Turkish economic ties

November 25, 2015, 16:19 UTC+3 YEKATERINBURG
However the situation may influence gas relations, because this is rather serious political issue, Andrey Kostin believes
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CEO of Russia’s VTB bank Andrey Kostin

CEO of Russia’s VTB bank Andrey Kostin

© ITAR-TASS/Valery Matytsyn

YEKATERINBURG, November 25. /TASS/. The CEO of Russia’s VTB bank Andrey Kostin believes that tensions with Turkey do not pose any serious losses for the Russian economy, but there may be complications in the gas sector.

"I would not escalate the situation right now, that is wrong. There are trade-economic relations, we always advocate for setting economy apart [from politics] to a certain extent. So I think we need to study the situation. I do not see any major losses for the Russian economy," Andrey Kostin told reporters.

He noted that the situation (around downed Su-24 combat plane of the Russian air group — TASS) should not greatly affect the economic performance, "even if there are some temporary issues related to trade and economic relations and gas."

"But the situation may influence gas relations, because this is rather serious political issue," Kostin said.

He stressed that some negative developments always occur in the world and it is necessary to take it calmly.

"We are not guilty of it, our position is balanced and, in my opinion, constructive and firm, which is also important," the banker said.

The head of VTB also said that the Russian economy is strong enough and the Turkish crisis is unlikely to affect it.

"With all its current problems the Russian economy is rather stable. Moreover, the international community also evaluates the situation quite carefully, and any accusations of the Russian side are hardly possible. We are not the initiators of this escalation; we are not guilty of this event. So I think there is no reason to lay claims to Russia," Kostin said.

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