Costin: there are signs that sanctions against Russia will be removed in 2016-2017

Costin: there are signs that sanctions against Russia will be removed in 2016-2017


Course the sanctions have outlived their usefulness, it interferes with trade and economic atmosphere in General, and the Western countries already have an understanding of this, said the head of the second main assets of the Russian Bank Andrey Kostin.

MOSCOW, 22 Jan. There are encouraging signs that the sanctions the EU and the USA will be with Russia removed or mitigated within the next two years, said the head of the second main assets of the Russian Bank Andrey Kostin, summarizing some results of the world economic forum in Davos.

“Opinions as to when this will happen, disagree — whether it’s 2016 or 2017,” he said.

“To some extent, the discussion was summarized by the head of the Munich forum, which said that the West should abandon sanctions that most foreign Western businessmen in the audience really want, what the West needs to find a good reason to abandon its policy,” said Kostin in an interview Vesti.ru.

According to him, the forum said many times that Russia has played an important role in the decision on the Iranian nuclear program that it may continue to play a significant role in resolving the problems of Syria, which the U.S. administration would like to resolve before his departure. “Overall, there are encouraging signs that the dialogue intensifies, there are interested with Western countries to move towards problem solving, including development of the Minsk process,” — said Kostin.

“Here there is support, understanding that the sanctions have outlived their usefulness, and it interferes with the overall atmosphere of trade and economic”, — said the head of VTB. “The views are different, the number of American representatives are of the opinion that the American administration is interested (to lift sanctions — ed.) until the completion of term as President Obama… while Others emphasize that rather it will be the task of the new administration,” said Kostin.

According to him, more and more European countries in favour of lifting the sanctions. The head of VTB suggested that can be removed “some of the most hard elements”. In his opinion, the lifting of sanctions with the Russian “blue chips” will lead to price growth of 25%. Later US Secretary of state John Kerry said that in the coming months it is possible to perform the Minsk agreement and to come to the point where sanctions against Russia can be lifted.