VTB will return to the question of privatization of the Bank after the promulgation of the new US sanctions

© RIA Novosti / Grigory to Sysoeva in Photobacterium, Chairman of Board of Bank VTB Andrey KostinVTB will return to the question of privatization of the Bank after the promulgation of the new US sanctions© RIA Novosti / Grigory to Sysoeva the image Bank

VTB will return to the discussion on the possible privatization of the Bank after the promulgation of the new U.S. sanctions, announced in an interview with CNBC, the head of the second assets of a Russian Bank Andrey Kostin.

Economic sanctions of Western countries against Russia was introduced in 2014. Under the sanctions were, including VTB. The President of the United States Donald trump in early August of last year signed the law, involving the extension of sectoral sanctions against the Russian economy. It is expected that the report on new sanctions will be published on 29 January.

«The process (of privatization — ed.) stopped because of the sanctions, American and European investors can purchase our shares, unfortunately,» said Kostin at the world economic forum in Davos.

«We have new sanctions some information on what they may be, no information. So next week we can promise that there will be any news, we will be able to assess, it is difficult to say,» added Kostin.

In September last year, Kostin reported that the privatization of VTB in terms of sanctions is inappropriate, and its timing depend on when they are removed. In turn, the head of the Central Bank Elvira Nabiullina reported that the VTB privatisation can only occur after the consolidation of the Russian banking sector and restore the confidence of Russians to private banks.

According to the plans of privatization of large companies and banks in 2018-2020, until 2019, the planned reduction in the share of participation of Russia in VTB 25% plus one share. Currently, the main shareholder is the Russian Federation, which is represented by Rosimushchestvo belongs 60,935% stake in the Bank.

Source