The financial sector has withstood “lawless” Western restrictions, Andrey Kostin has told President Putin Russian banks have withstood unprecedented Western sanctions and have had a “highly successful” 2023, the head of the country’s second-largest lender has said. VTB CEO Andrey Kostin met with Russian President Vladimir Putin on Monday, where they discussed the state of the country’s banking sector. Kostin described the sanctions imposed on Russia since last year by the EU and the US as “absolute lawlessness,” admitting that VTB had suffered “serious losses” when its overseas branches and subsidiaries “were take
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