The measure is necessary to support the ruble, according to the head of VTB, Andrey Kostin The CEO of Russia’s second-largest bank, VTB, has argued that the country must close loopholes that allow unregulated capital outflows. Andrey Kostin claimed that the current situation is damaging the ruble. Speaking to the RBK news agency in an interview published on Tuesday, Kostin said that while residents are banned from sending more than $1 million or the equivalent in foreign currency abroad per month, there are no such limits on ruble transfers. “There are still loopholes. Let’s say you decide to transfer money abroad
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