VTB has several plans to counter the UK sanctions in a way that minimizes the negative impact on customers. This was announced on Thursday, February 24, in the press service of the bank “Izvestia”.
“VTB is one of the backbone banks in Russia with a broad international presence and a stable financial position. Sanctions have been a reality for us over the past few years, and another round of politically motivated anti-Russian sanctions came as no surprise.
The bank noted that VTB had time to learn lessons and prepare for the toughest scenario.
“VTB has been and remains a reliable partner for millions of customers, investors and shareholders,” the press service said.
Earlier in the day, British Prime Minister Boris Johnson announced new sanctions against Russia. The country intends to freeze the assets of all major Russian banks with an immediate freeze on VTB’s assets.
In addition, sanctions are being imposed against Promsvyazbank Chairman Pyotr Fradkov, Russian businessman Kirill Shamalov and VTB Deputy Chairman of the Board Denis Bortnikov.
On February 24, Russian President Vladimir Putin, in his special televised address, announced that a special operation would be carried out in the Donbass in order to protect the civilian population. After that, Vladimir Zelensky accused Russia of hitting the country’s military infrastructure and introduced martial law throughout the country.
On the same day, Johnson announced that Britain and its allies would impose “large-scale sanctions” against Russia in connection with a special operation of the Russian Federation in the Donbass. He noted that countries should collectively abandon Russian oil and gas, “which for too long have given President Putin leverage over Western politics.”
It also became known that Switzerland is introducing financial sanctions against “three banks of Russia” and “travel restrictions” against 361 State Duma deputies.
On February 21, the Russian leader signed decrees recognizing the independence of the Lugansk and Donetsk People’s Republics (LNR and DNR). Also, the President of the Russian Federation and the heads of both republics Leonid Pasechnik and Denis Pushilin signed agreements on friendship, cooperation and mutual assistance. The documents were ratified the next day by both the republics themselves and the Russian State Duma.
The situation in Donbass escalated on February 17. The DPR and LPR reported heavy shelling by Ukrainian security forces, including from heavy weapons. The republics announced a general mobilization and evacuation of civilians to the territory of Russia.
Since 2014, the Kiev authorities have been conducting a military operation against the inhabitants of Donbass, who refused to recognize the results of the coup d’état and the new government in Ukraine. At the same time, Kiev blames Moscow for the current situation. Russia has repeatedly stated that it is not a party to the conflict.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
