
Banks and the Central Bank have a plan in case US sanctions are extended to the financial instruments of Russian credit institutions, VTB HEAD Andrey Kostin said in an interview with RBC.
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“We [banks] adopted a plan together with the Central Bank back in 2018. it provides for our joint actions in the event of the “H” time: what to do with the currency and so on. The state will help such banks, will support, first of all, in terms of working with depositors. The entire banking community will help, such scenarios have all been worked out. We are gradually updating them, taking into account the development of the situation. Undoubtedly, the financial and banking sector will fulfill its obligations. We will survive and somehow digest, ”said Kostin.
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Blocking sanctions against banks would deprive them of the opportunity to function in their current form and would not allow them to make payments in foreign currencies, the head of VTB said.