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Investing.com -- Russia’s VTB, the second-largest lender in the country, announced on Tuesday that it does not anticipate the lifting of sanctions in the near future. This statement was made by the bank’s Chief Financial Officer, Dmitry Pyanov.
Pyanov added that even if the ongoing conflict in Ukraine were to be peacefully resolved, Russian companies, including VTB, are not expected to be granted immediate access to operate in Western markets. This reflects the current geopolitical climate and the complex nature of international sanctions.
VTB’s announcement comes amidst a period of economic and political uncertainty for Russia, with sanctions affecting the operations of many of its businesses. The sanctions, imposed by Western countries, have been a significant factor in the country’s economic landscape in recent years.
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