Kostin has accused the US of waging “economic war” against Russia


“I cannot imagine what kind of interaction might be when one group of States in the G20 is the economic war against another group of States”, — said Andrey Kostin on Thursday, June 16, at the session dedicated to the work of G20 St. Petersburg international economic forum (SPIEF) .

Kostin stressed that the sanctions applied to Russia, is “methods of economic warfare, which is already two years is being waged against Russia” because they represent the use of financial methods to achieve economic and military purposes. According to him, the war lead the United States.

Earlier Kostin said he believes the sanctions against Russia “wrong decision”. In his opinion, they undermine the global financial architecture, have a negative impact on the Russian economy, but even worse impact on the political dialogue and security in Europe.

“Who wants to live in a less secure world?” he said.

Sanctions will remain in place for about two years, said Kostin in Davos. In the case of removal imposed by the US and EU sanctions, the Bank’s shares, VTB can rise in price by 25%, says Costin. “If sanctions are lifted, VTB shares will immediately rise by 25%. At the moment, we believe that it will not happen this year, but who knows. Our business partners in Europe say that, maybe in July some of the sanctions, perhaps in the banking sector can be removed. But it does not depend on us”, — said the head of VTB in an interview with Bloomberg TV.

According to Kostin, the shares are under sanctions of the EU and US, Russian companies can go up by 50% after the lifting of restrictions.