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Sberbank CEO says sees no prospects for improvement in Russia-US relations

Herman Gref said that his bank has problems abroad stemming from the US sanctions

YUZHNO-SAKHALINSK, May 19. /TASS/. Sberbank CEO Herman Gref said on Sunday he doesn’t expect any changes in the United States’ policy of sanctions against Russia in the near future.

"We have been waiting for too long," he said in an interview with the Deistvuyushchiye Litsa (Political Actors) with Nailya Asker-zade program on the Rossiya-1 television channel when asked about possible improvements in the Russian-US relations. "We will be glad if it comes as a bonus to our plans, but so far, regrettably, it is hardly ever possible in the foreseeable future. So, other decisions are needed as concerns the business planning time-frames," he noted.

He said that his bank has problems abroad stemming from the US sanctions. "We had to stop our international strategy. We used to earn more than one billion US dollars in net profits abroad but after the sanctions were imposed have lost possibilities of generating dividends even in those countries we derive big profits in," Gref said.

The United States have been imposing sanctions on Russia over the situation in Ukraine and Crimea’s reunification with Russia in 2014. Such pillar of Russian business as Sberbank, Vnesheconombank, Gazprombank, Kalashnikov concern, Novatek, Almaz-Antey, Gazpromneft, Lukoil, Surgutneftegaz, and Rosneft have falled under the sanctions.