Russian government confirms VTB privatisation

 

Russian government confirms VTB privatisation The Russian government on Wednesday confirmed its plan to privatize the VTB bank despite Western sanctions against it, ITAR TASS reports. “I cannot say what the economic or political situation will be like a year from now. Everything changes so quickly. But the asset must be in good economic condition to attract investors today, tomorrow and the day after tomorrow,” ITAR TASS quotes Olga Dergunova, the head of the Federal Agency for the Federal Property, as saying.She said the Agency was not revising privatization plans for VTB and the state-owned oil company Rosneft, which has also been affected by US sanctions.Earlier this week, the United States announced a fourth round of anti-Russian sanctions which will apply to VTB, Rosselkhozbank and Bank of Moscow. They will not be allowed to borrow from American companies for a period of more than 90 days.

The Russian government on Wednesday confirmed its plan to privatize the VTB bank despite Western sanctions against it, ITAR TASS reports. “I cannot say what the economic or political situation will be like a year from now. Everything changes so quickly. But the asset must be in good economic condition to attract investors today, tomorrow and the day after tomorrow,” ITAR TASS quotes Olga Dergunova, the head of the Federal Agency for the Federal Property, as saying.She said the Agency was not revising privatization plans for VTB and the state-owned oil company Rosneft, which has also been affected by US sanctions.Earlier this week, the United States announced a fourth round of anti-Russian sanctions which will apply to VTB, Rosselkhozbank and Bank of Moscow. They will not be allowed to borrow from American companies for a period of more than 90 days.

 

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