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Risks of Western sanctions still high for Russian banks

July 01, 2014, 14:32 UTC+3 ST. PETERSBURG
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ST. PETERSBURG, June 1./ITAR-TASS/. The probability of Western economic sanctions against Russian banks still remains high, head of Russia’s second largest bank VTB said on Tuesday.

“The probability of sanctions against Russian banks is no less than it was a month ago,” the VTB head said at an international banking congress.

The United States and European countries have imposed sanctions against certain Russian government officials and companies controlled by persons close to President Vladimir Putin in a bid to influence Russia’s stance on Ukraine.

The West has also threatened to impose fresh sanctions against Russia, if it does not change its Ukraine policy. The new sanctions may affect particular sectors of the Russian economy, including the oil and gas sector and the banking system.

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