Russia’s VTB Bank Continues International Cooperation Despite Sanctions

© RIA Novosti . Alexei Kudenko / Go to the mediabankVTB Bank Management Board chairman and deputy president Herbert Moos says VTB will continue to work with its foreign counterparts despite sanctions
VTB Bank Management Board chairman and deputy president Herbert Moos says VTB will continue to work with its foreign counterparts despite sanctions - Sputnik International
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Russia’s second-largest bank, VTB, is continuing cooperation with all of its international partners despite Western sanctions, according to VTB Bank Management Board chairman and deputy president Herbert Moos.

MOSCOW, August 21 (RIA Novosti) - Russia’s second-largest bank, VTB, is continuing cooperation with all of its international partners despite Western sanctions, according to VTB Bank Management Board chairman and deputy president Herbert Moos.

“We continue to work with all our foreign counterparts within the framework of the current sanctions regime,” Moos said during a telephone conference, adding that VTB is also looking into different ways of attracting funding on various international markets.

In July, the European Union officially barred Russia’s largest state-run banks – Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank – from raising funds on Western capital markets after the United States imposed sanctions against three major Russian banks – VTB Group, Bank of Moscow, and Rosselkhozbank.

Moos noted that all VTB Group subsidiaries are performing routine operations as usual, since Western sanctions are not affecting the bank’s operational activities.

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