The head of VTB compared the possible introduction of new U.S. sanctions a Declaration of war

© RIA Novosti / Michael Voskresenskiye in fotobanka Costin. Archival photoThe head of VTB compared the possible introduction of new U.S. sanctions a Declaration of war© RIA Novosti / Michael Voskresenskiye the image Bank

The head of VTB Andrey Kostin warned of a «growing threat of a military conflict» in Europe and compared the possible introduction of new US economic sanctions against the Russian «Declaration of war», writes the financial times.

«We are on the verge of a new arms race. NATO needs more weapons and placing more weapons in Europe. Russia will respond in kind. Who will benefit from this? Only the generals and weapons manufacturers. America believes that Europe should pay more for it. Who cares? This is very dangerous,» said Kostin in an interview on the sidelines of the world economic forum in Davos.

According to Kostin, any economic sanctions against Russian organizations will only aggravate the situation and is akin to a «Declaration of war».

«In my opinion, this is a very dangerous situation, worse than the cold war. I think that the Americans are playing with fire, because our relationship continues to deteriorate, we are not to blame», — the newspaper quotes words of the head of VTB.

While Kostin said that he himself is not concerned with the possibility of personal sanctions, including a ban on entry into the United States or the prohibition to have a us Bank account.

Economic sanctions of Western countries against Russia was introduced in 2014. Under the sanctions were, in particular, and 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.

In an interview with CNBC in Davos Costin expressed the opinion that the so-called «Russian investigation» is primarily the consequence of internal political struggle in the United States. «It seems to me that this kind of internal political struggle in America in which Russia is just used as a bargaining chip,» said he.

Kostin reiterated that the situation in the United States raises concerns from the point of view of security in the world.

«You first elected President, and then slammed into him with attacks. It’s a little ridiculous. We believe that it is even dangerous, because Europe is getting more weapons, Russia will take retaliatory measures. What will happen? This is very dangerous, I think. I’m not talking about nuclear war, but, you know, when too large a military contingent when too many weapons focuses close, it seems to me that just leads to a decrease in the level of security that badly,» — said the head of VTB.