September 6, 2018 / 4:57 PM / 9 months ago

Russia's VTB head: possible new US sanctions on financial sector would be a hard hit - TV

Russian state bank VTB Chief Executive Andrey Kostin attends a session of the Moscow Financial Forum in Moscow, Russia September 6, 2018. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Possible new U.S. sanctions on the Russian financial sector would be a hard blow, Andrey Kostin, chief executive of Russia’s second biggest bank VTB, told Rossiya-24 TV station in an interview.

He also said he believed it would be ‘impossible’ for the Russian central bank to cut its key interest rate at a meeting next week given the recent turmoil on the markets.

But, Kostin added that the Russian economy was strong and should not expect any significant shocks.

Reporting by Katya Golubkova; Editing by Kirsten Donovan

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