Kostin responded to Zelensky's office's accusations against US and EU banks

The HEAD of VTB believes that Western bankers are people of negotiations, not ultimatums.Kyiv's threats to prevent banks from financing the restoration of Ukraine, he called trade the future of the country Andrey Kostin

The campaign of threats to Western bankers, which was launched in Kyiv, is a manifestation of populism and selfishness in relation to "their own breadwinners" and those who help Ukraine, Andrey Kostin, head of VTB, wrote in a column for RBC.

This is how he reacted to the statement of Oleg Ustenko, adviser to the President of Ukraine on economic issues, who threatened claims to the International Criminal COURT (ICC) against the largest banks in Europe and the United States , if they do not break off relations with companies trading Russian oil. Claim letters, he said, were sent to JPMorgan Chase, Citigroup, HSBC and Credit Agricole. In case of failure to comply with the requirements of Kyiv, the banks were threatened with removal from financing the future reconstruction of the country.

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“There is already something familiar in all this endless populism of Ukrainian politicians. The new Ukrainian “establishment” in dialogue with the West is increasingly reminiscent of the undergrowth from the classic comedy of the same name by Fonvizin. Ultimately, selfishness towards one’s own breadwinners turns out to be impossible to hide behind a screen of clumsy flattery and manipulation,” the head of VTB believes.

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Kostin noted that "the frenziedness of the Ukrainian authorities in relation to their "friends" is not surprising." But the calmness and tolerance with which the “collective West” refers to such attacks never cease to amaze. In his opinion, Western bankers will respond to these accusations with "stable professional work within the framework of international and domestic legislation."

Threats to prevent these banks from financing the restoration of Ukraine Kostin regarded as a case "when the future of the country is still traded."

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In his column, the head of VTB wrote that for 25 years in the banking business he managed to work and communicate personally, including in the family circle, with many prominent figures in the global banking business. “These are people of negotiations, not ultimatums. Proponents of balance, not extremes. They prefer quiet and effective actions, despise loud statements and empty promises. They play for the long haul and avoid populist decisions. Build bridges, don't burn them. However, these are the universal rules of a successful businessman and any self-respecting banker. <...> The recent threats by one of Zelensky’s regular faceless advisers against the heads of leading American and European banks run counter to all these principles at once,” he said.

Kostin stressed that the heads of these banks are respected all over the world, their opinions are considered by presidents and the business elite, and from Kyiv "they are taught to count and express themselves better."

The Ukrainian leadership has repeatedly made claims against its Western allies. The last time on July 17, President Volodymyr Zelensky announced that he expressed his dissatisfaction with Canadian Prime Minister Justin Trudeau because of his government's decision to return a turbine for the Russian Nord Stream gas pipeline, which was under repair in Montreal.

“I separately noted that the Ukrainians will never accept Canada’s decision regarding the turbine for the Nord Stream, which it was decided to transfer to Germany in de facto violation of the sanctions regime,” Zelensky said. However, he thanked CANADA for its support.