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Anti-Russian sanctions

VTB head expects US sanctions against Russia to be eased in 2017

The bank's CEO believes that the European Union will also change its opinion regarding sanctions as the US pressure becomes lower

VTB Bank Chief Executive Officer Andrei Kostin Marina Lystseva/TASS

VTB Bank Chief Executive Officer Andrei Kostin

© Marina Lystseva/TASS

DAVOS, January 17. /TASS/. Economic sanctions imposed by the United States against Russia are expected to be eased this year, VTB Bank Chief Executive Officer Andrei Kostin told reporters at the Davos World Economic Forum on Tuesday.

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"I think easing will certainly take place, at least during this year. I believe this is fairly real," Kostin said responding to the question from TASS regarding possible relaxation of US economic sanctions this year.

At the same, there should be no over-reliance on activities of the new US administration in mending relations with Russia, the banker added.

The European Union will also change its opinion regarding sanctions as the US pressure becomes lower, Kostin said.

"The United States exerted very strong pressure on Europe and I think it will be more difficult for the German party to keep Europeans within the sanction framework against Russia in absence of such pressure. There is a hope for this year definitely; the year has just started," he added.

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Sanctions vs. Russia VTB

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