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Incident with Su-24 to adversely affect Russia-Turkey economic relations — VTB CEO

The tourist sector will certainly suffer losses from suspension of sales of vacation packages to Turkey, Andrey Kostin notes

VTB CEO Andrei Kostin Sergei Savostyanov/TASS

VTB CEO Andrei Kostin

© Sergei Savostyanov/TASS

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MOSCOW, November 26. /TASS/. Turkey’s attack against the Russian Su-24 bomber in airspace over Syria will adversely affect the bilateral trade and economic cooperation, Chief Executive Officer of Russian bank VTB Andrey Kostin said on Thursday on air at Bloomberg TV.

"This will definitely affect Russian-Turkish cooperation," he added.

The tourist sector will certainly suffer losses from suspension of sales of vacation packages to Turkey, Kostin said. "Nevertheless, I hope very much financial, economic and trading relations will continue," VTB CEO said.

Speaking about US sanctions against Russia, Kostin said he expects them to last for at least 1-2 years. "VTB is developing its strategy on the assumption that sanctions will last for at least 1-2 years," he said. "Sanctions on the side of the United States, which are the most important for the financial sector," he added.

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Economy Turkey VTB Trade & Cooperation

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