Putin banker denies estrangements with US at Davos: ‘Business as usual’

U.S. President Donald Trump speaks to the media after the Congressional Republican Leadership retreat at Camp David, Maryland, U.S., January 6, 2018. REUTERS/Yuri Gripas
Given that the U.S. weighs no matter whether to grow its sanctions on Russia, the head of Moscow’s state-controlled bank VTB warned that any more penalties may very well be ruinous towards the worldwide economic system.

“We are portion of this political game,” VTB Chairman and CEO Andrey Kostin informed FOX Business’ Liz Claman. “And I think the Russian facet will not be very substantially dependable for this. The American facet decided to go just how of sanctions, which I think may be very damaging with the worldwide overall economy.”

President Trump, who’s presently meeting with world-wide leaders and CEOs at the Entire world Financial Forum in Davos, Switzerland, is reportedly eschewing get in touch with with Russians amid ever more icy tensions and impending sanctions. Washington is expected to impose fresh penalties towards Russia as early as February for allegedly meddling within the 2016 presidential election. Russia vehemently denies any involvement.

Nevertheless, Kostin, who’s also in Davos, said that he’s conference with officials from U.S. banks, together with JPMorgan (JPM), Lender of The us (BAC), Citigroup (C) and Banky of latest York Mellon (BK). Russia may be the primary shareholder of VTB Financial institution, that is headquartered in Moscow but retains subsidiaries across Europe, Africa, Asia as well as Middle East.

“They’re all colleagues of mine,” he claimed. “I’ve recognized them for your dozen years. It is business as usual.”

But, Kostin conceded that it could be politically perilous for Trump to satisfy with Russians while overseas because with the ongoing speculations that his campaign intentionally colluded with Moscow in the election.

Special counsel Robert Mueller is presently investigating attainable ties concerning the Trump campaign and Russia through the 2016 campaign. Kostin, and VBT, can also be combating rumors of funding a potential Trump Tower in Moscow.

“I’m always questioned right here by colleagues if I deal with [Jared] Kushner or Trump, if I ever gave money to them,” he explained. “Never. I never saw any one within the Trump family. I never gave money to anybody with the Trump family or his assistants.”