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Sberbank head says western sanctions against Russia may not be lifted this year

It is necessary for Russia to plan for the future regarding its relations with the United States, according to the bank's CEO

Sberbank CEO Herman Gref Sergei Savostyanov/TASS

Sberbank CEO Herman Gref

© Sergei Savostyanov/TASS

DAVOS, January 19. /TASS/. The lifting of western sanctions against Russia will take some time, and it is unlikely sanctions will be lifted this year, Chief Executive Officer of Russia’s biggest lender Sberbank Herman Gref said at the World Economic Forum in Davos on Thursday.

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"We all hope, but I think this will take some time. I wish (it happened - TASS) in 2017, but I’m afraid it may take time," he said.

According to Gref, it is necessary for Russia to plan for the future regarding its relations with the United States.

"It’s always necessary to look ahead. Sometimes you cannot build a constructive future relying on historical ties. As for Russia’s relations with the US, we have to look ahead and go through challenges, otherwise building a future will be a rather difficult task," he said.

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Sberbank Sanctions

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