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Russian bank CEO expects anti-Russia sanctions to last for another 2 years

January 21, 2016, 10:39 UTC+3

According to VTB CEO, geopolitical tensions between Russia and other countries will ease

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VTB CEO Andrey Kostin

VTB CEO Andrey Kostin


DAVOS, January 21. /TASS/. President of Russia’s second-biggest lender VTB Andrey Kostin expects anti-Russia sanctions to last for another 2 years, he said at a business breakfast with investors organized by VTB Capital in Davos on Thursday.

"As far as sanctions are concerned I think we should wait for another 2 years," he said.

According to Kostin, geopolitical tensions between the Russian Federation and other countries will ease. "We’ll see improvements for a number of reasons as we’re pursuing a consistent policy regarding efforts to resume dialogue with the west. We see that Europe needs relations with Russia. Besides, probably the administration of [US President] Obama is keen to obtain some results before it leaves," the official said.

Speaking about the current situation in the Russian economy Kostin said he does not consider it to be a crunch. "Crisis means you need a glass of vodka instead of a cup of coffee in 7 am in the morning. I’m still pretty happy with my coffee in the morning that’s why I haven’t reached this stage," he said.

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