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VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various
federal districts of Russia The federal districts (russian: федера́льные округа́, ''federalnyye okruga'') are groupings of the federal subjects of Russia. Federal districts are not mentioned in the nation's constitution, and do not have competences of th ...
; its legal address is registered in
St. Petersburg Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...
; as of 2022 company's capital stock was mostly owned by three Russian agencies. VTB Bank and its subsidiaries form a leading Russian financial group – VTB Group uniting VTB banks located in different countries and offering a wide range of corporate banking services and products in Russia,
CIS Cis or cis- may refer to: Places * Cis, Trentino, in Italy * In Poland: ** Cis, Świętokrzyskie Voivodeship, south-central ** Cis, Warmian-Masurian Voivodeship, north Math, science and biology * cis (mathematics) (cis(''θ'')), a trigonome ...
, Europe, Asia, Africa, and the U.S. VTB was ranked 446th on the
FT Global 500 The FT Global 500 is an annual snapshot of the world's largest companies to show how corporate fortunes have changed in the past year, highlighting relative performance of countries and sectors. The companies are ranked by market capitalization. Th ...
2012, The ''
Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
''’ annual snapshot of the world's largest companies. It climbed to 210th in the ranking of the 500 largest companies in Europe, the FT Europe 500 2014, and to 127th in the FT Emerging 500 2014, the list of the 500 largest companies on the world's emerging markets.


History

VTB Bank was founded as Vneshtorgbank in 1990 with the support of the Russian State Bank and the
Ministry of Finance A ministry of finance is a part of the government in most countries that is responsible for matters related to the finance. Lists of current ministries of finance Named "Ministry" * Ministry of Finance (Afghanistan) * Ministry of Finance and Eco ...
. It was set up as a limited liability company with the aim of servicing Russia's foreign trade operations and promoting Russia's integration into the
global economy The world economy or global economy is the economy of all humans of the world, referring to the global economic system, which includes all economic activities which are conducted both within and between nations, including production, consumption, ...
. In 2004, the bank acquired a majority stake of 85.8% in Guta Bank, which was reorganised into a retail bank, Vneshtorgbank 24 (VTB24). The bank also acquired the Armenian Armsberbank, which was later renamed VTB Armenia. In 2005, the bank acquired 75% plus three shares of the Promstroybank (PSB), which was reorganised as Bank VTB North-West and later became VTB's North-Western Regional Centre, and bought the Ukrainian bank Mriya, which was later merged with VTB Bank (Ukraine). In 2007, the bank set up a subsidiary in
Angola , national_anthem = " Angola Avante"() , image_map = , map_caption = , capital = Luanda , religion = , religion_year = 2020 , religion_ref = , coordina ...
known as VTB África. The bank also took over Slavneftebank in
Belarus Belarus,, , ; alternatively and formerly known as Byelorussia (from Russian ). officially the Republic of Belarus,; rus, Республика Беларусь, Respublika Belarus. is a landlocked country in Eastern Europe. It is bordered by R ...
and later renamed it VTB Belarus. In June, VTB became the first Russian bank to offer an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
(IPO), raising $8 billion in what became the largest international banking IPO at the time. In 2008, the bank acquired a 51% stake in AF Bank in
Azerbaijan Azerbaijan (, ; az, Azərbaycan ), officially the Republic of Azerbaijan, , also sometimes officially called the Azerbaijan Republic is a transcontinental country located at the boundary of Eastern Europe and Western Asia. It is a part of th ...
from
AF Holding International AF Holding International is one of the largest conglomerate companies in Azerbaijan. The company has offices and activities in Baku, Moscow and London. AF Holding is active in business sectors of construction, production, property, retail and tour ...
, later renaming it VTB Azerbaijan. In 2010, the bank's board approved the phased acquisition of TransCreditBank from
Russian Railways Russian Railways (russian: link=no, ОАО «Российские железные дороги» (ОАО «РЖД»), OAO Rossiyskie zheleznye dorogi (OAO RZhD)) is a Russian fully state-owned vertically integrated railway company, both manag ...
. In 2013, VTB carried out a
secondary public offering A secondary market offering, according to the U.S. Financial Industry Regulatory Authority (FINRA), is a registered offering of a large block of a security that has been previously issued to the public. The blocks being offered may have been held ...
(SPO) which raised 102.5 billion rubles ($3.3 billion) and diluted the Russian government's share in VTB from 75.5 percent to 60.9 percent. In 2011, VTB invested more than $191 million for shares in the Isle of Man company DST Investment 3 which was roughly than half of the funds in
Yuri Milner Yuri Borisovich (Bentsionovich) Milner (russian: Юрий Борисович (Бенционович) Мильнер; born 11 November 1961) is a Soviet-born Israeli entrepreneur, venture capitalist and physicist. He is a cofounder and former c ...
's
DST Global DST Global is a venture capital and private equity firm that primarily invests in late-stage internet companies. DST Global has been described as one of the largest and most influential venture firms in the world, with an estimated $50 billion in ...
. This led to Milner's large stake in Twitter. Kanton had almost no investment in Twitter. DST Investment 3 also issued shares to
Alisher Usmanov Alisher Burkhanovich Usmanov (russian: Алишер Бурханович Усманов; born 9 September 1953) is an Uzbek-born Russian businessman and oligarch. By 2022, Usmanov had an estimated net worth of $19.5 billion and was among the ...
's Kanton that were used to support the Kremlin's investment in Facebook. On 7 May 2014, VTB transferred most of its DST Investment 3 to Kanton. In 2014 prior to
Russo-Ukrainian War The Russo-Ukrainian War; uk, російсько-українська війна, rosiisko-ukrainska viina. has been ongoing between Russia (alongside Russian separatist forces in Donbas, Russian separatists in Ukraine) and Ukraine since Feb ...
, VTB Bank was one of the biggest banks of Ukraine. Since 2014, the bank has been subject to political sanctions (see separate section below). In August 2018, it was announced that VTB Bank would acquire a 75% stake in Vozrozhdenie Bank after its previous owners oversaw a "major banking collapse". In November 2018, the
National Bank of Ukraine National Bank of Ukraine ( uk, Національний банк України) or NBU ( uk, НБУ) is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, includ ...
declared the Ukrainian subsidiary of VTB Bank insolvent due to its declining liquidity and worsening financial position. In December 2018, it was announced that VTB Bank would be acquiring controlling stakes in Sarovbusinessbank (81.1%) and Zapsibcombank (71.8%).


Mergers and acquisitions

VTB Bank took over 15 banks between 2002 and February 2019: * Guta Bank (2004), later renamed VTB24 *
Bank of Moscow The Bank of Moscow (russian: Банк Москвы) was a Russian bank that provided banking services to both corporate and retail customers until May 2016. Headquartered in Moscow, the bank had 267 outlets, including branch offices and cash desks ...
*TransCreditBank *Armsberbank in
Armenia Armenia (), , group=pron officially the Republic of Armenia,, is a landlocked country in the Armenian Highlands of Western Asia.The UNbr>classification of world regions places Armenia in Western Asia; the CIA World Factbook , , and ''Ox ...
(2004), later renamed VTB Armenia *Promstroybank (2005), renamed Bank VTB North-West and later reorganised as VTB's North-Western Regional Centre *Eurobank in France (2005), later renamed VTB France *Evrofinance Mosnarbank in
Great Britain Great Britain is an island in the North Atlantic Ocean off the northwest coast of continental Europe. With an area of , it is the largest of the British Isles, the largest European island and the ninth-largest island in the world. It is ...
(2005), later renamed VTB Europe Plc, and then VTB Capital Plc *
Ost-West Handelsbank Ost-West Handelsbank AG was a Soviet-controlled bank in Frankfurt established in 1971. It was acquired by VTB Bank and changed its name to VTB Bank Deutschland. History Ost-West Handelsbank AG (OWHB) was founded in 1971 by the Soviet Union's Gosba ...
AG in Germany (2005), later renamed VTB Germany *United Georgian Bank (2005), later renamed VTB Georgia *Mriya in
Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
(2006), later merged with VTB Ukraine *Slavneftebank in
Belarus Belarus,, , ; alternatively and formerly known as Byelorussia (from Russian ). officially the Republic of Belarus,; rus, Республика Беларусь, Respublika Belarus. is a landlocked country in Eastern Europe. It is bordered by R ...
(2007), later renamed VTB Belarus *AF Bank in Azerbaijan from
AF Holding International AF Holding International is one of the largest conglomerate companies in Azerbaijan. The company has offices and activities in Baku, Moscow and London. AF Holding is active in business sectors of construction, production, property, retail and tour ...
(2008), later VTB Azerbaijan * Vozrozhdenie (2018) *Zapsibkombank (2018) *SarovBusinessBank (2018).


VTB24, Russian Post and Post Bank

On 24 July 2015, an agreement, which as approved by Dmitry Medvedev, was signed between the bank president, Director of
Russian Post Russian Post ( rus, Почта России, a=RU-Почта России.wav, ''Pochta Rossii'') is an Aktsionernoye Obschestvo (AO, private limited company)
, Dmitry Strashnov, and Minister of Communications and Mass Media,
Nikolai Nikiforov Nikolay Anatolyevich Nikiforov (russian: Никола́й Анато́льевич Ники́форов; born 24 June 1982) is a Russian politician. In 2012, he became Minister of Communications and Mass Media of Russia. Career At age 19, N ...
, on the Russian Post purchase of 50 percent minus 1 share of Leto Bank (Summer Bank) from VTB24, with the purpose of reorganising it into the National Post Bank. The remaining 50 percent plus one share will be owned by VTB24 of VTB Bank. VTB CEO Kostin suggested appointing Dmitry Rudenko, the current head of Leto Bank, as the head of Post Bank (Russia). On 28 January 2016, sets of documents were signed between VTB24 and Russian Post on establishing the Post Bank. Russian Post purchased 50 percent minus one share of the newly established Post Bank through its 100 percent subsidiary. The remaining 50 percent plus one share is owned by VTB24 of VTB Bank. Dmitry Rudenko, the head of Leto Bank of VTB24, became the head of Post Bank (Russia). On 28 December 2017, VTB24 sells two shares to Dmitry Rudenko, the Chairman of the Board of Post Bank. VTB 24 and Russia Post have equal shares in Post Bank: each have 50 percent minus one share. VTB24 has 1,062 branches. On 1 January 2018, VTB acquired VTB24. The integrated network has 1,350 branches.


Corporate affairs


Shareholders

In February 2011, the government floated an additional 10% minus two shares of VTB Bank. The private investors, who paid a total of 95.7 billion rubles ($3.1 billion) for the assets, included the investment funds Generali,
TPG Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...
,
China Investment Corp China Investment Corporation (CIC) ( Chinese: 中国投资有限责任公司; pinyin: ''zhōngguó tóuzī yǒuxiàn zérèn gōngsī'') is a sovereign wealth fund that manages part of the People's Republic of China's foreign exchange reserves. ...
, a
sovereign wealth fund A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such ...
responsible for managing China's
foreign exchange reserves Foreign exchange reserves (also called forex reserves or FX reserves) are cash and other reserve assets such as gold held by a central bank or other monetary authority that are primarily available to balance payments of the country, influence ...
, and companies affiliated with businessman
Suleyman Kerimov Suleyman Abusaidovich Kerimov (russian: Сулейма́н Абусаи́дович Кери́мов, p=sʊlʲɪjˈman ɐbʊsɐˈidəvʲɪtɕ kʲɪˈrʲiməf; lez, Керимрин Абусаидан хва Сулейман; born 12 March 1966) ...
. In May 2013 VTB completed a secondary public offering (SPO), issuing 2.5 trillion new additional shares by public subscription. All shares were placed on Moscow's primary stock exchange. The government did not participate in the SPO, so its stake in the bank decreased to 60.9% after the subscription closed. The bank raised 102.5 billion rubles worth of additional capital. Three sovereign wealth funds, Norway's
Norges Bank Norges Bank / Noregs Bank is the central bank of Norway. The bank shall promote economic stability in Norway. Norges Bank also manages the Government Pension Fund of Norway and the bank’s own foreign exchange reserves. History The history of ...
Investment Management,
Qatar Holding LLC The Qatar Investment Authority (QIA; ar, جهاز قطر للإستثمار) is Qatar's sovereign wealth fund. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In 2021 ...
and the State Oil Fund of the Republic of Azerbaijan (SOFAZ) and commercial bank
China Construction Bank China Construction Bank Corporation (CCB) is one of the " big four" banks in China. In 2015, CCB was the 2nd largest bank in the world by market capitalization and 6th largest company in the world. The bank has approximately 13,629 domestic bra ...
became the largest investors during the SPO, after purchasing more than half of the additional shares issued. In 2017 the main shareholder of VTB is the
Russian government The Government of Russia exercises executive power in the Russian Federation. The members of the government are the prime minister, the deputy prime ministers, and the federal ministers. It has its legal basis in the Constitution of the Russia ...
, which owned 60.9% of the lender through its
Federal Agency for State Property Management The Federal Agency for State Property Management (Rosimushchestvo) () is a subdivision of the Russian Ministry of Economic Development that manages Russia's federal state property. History The agency was formed by a presidential decree, No.314, ...
. The remaining shares are split between holders of its
Global Depository Receipts A global depository receipt (GDR and sometimes spelled ''depositary'') is a general name for a depositary receipt where a certificate issued by a depository bank, which purchases shares of foreign companies, creates a security on a local exchan ...
and minority shareholders, both individuals and companies.


2020 and onward

As of February 2022 the bank reported that its stock shares are distributed in the following way: * 12.13% of (capital) shares – Federal Agency for State Property Management (Russia) * 32.88% of (capital) shares –
Ministry of Finance (Russia) The Ministry of Finance of the Russian Federation (russian: Министерство финансов Российской Федерации), also known as ''MinFin'' (Минфин России), is a ministry of the Government of Russia respon ...
* 47.22% of (capital) shares –
Deposit Insurance Agency of Russia Deposit Insurance Agency (DIA) (russian: Агентство по страхованию вкладов (АСВ)) is a Russian state corporation (non-profit organization) established in January 2004 to manage operation of the deposit insurance sys ...


Executive Management

As of April 2022, its Management Committee (referred as VTB Bank Management Board or VTB MB) includes: *
Andrey Kostin Andrey Leonidovich Kostin (russian: Андрей Леонидович Костин; born September 21, 1956) is a Russian banker who is chairman of the VTB Management board since June 10, 2002. Education and career In 1973, Kostin began stud ...
- Chief executive of the Bank (since 10 June 2002), President and Chairman of VTB Bank Management Board, Member of the Supervisory Council, * Andrey Puchkov (First Deputy President and Chairman of VTB MB) * Denis Bortnikov (Deputy President and Chairman of VTB MB) * Olga Dergunova (Deputy President and Chairman of VTB MB) * Valery Lukyanenko (Deputy President and Chairman of VTB MB) * Anatoly Pechatnikov (Deputy President and Chairman of VTB MB) * Maxim Kondratenko (Member of VTB MB) * Erkin Norov (Member of VTB MB) * Dmitriy Pianov (Member of VTB MB)


Supervisory council

, VTB's Supervisory Council consists of
Anton Siluanov Anton Germanovich Siluanov ( rus, Анто́н Ге́рманович Силуа́нов, p=ɐnˈton ˈɡʲɛrmənəvʲɪtɕ sʲɪlʊˈanəf; born 12 April 1963) is a Russian politician and economist serving as Minister of Finance since 2011. H ...
(Chairman of the Supervisory Council), Matthias Warnig (member of the Supervisory Council), Sergey Dubinin (member of supervisory council), Mikhail Zadornov (Member of Supervisory Council),
Andrey Kostin Andrey Leonidovich Kostin (russian: Андрей Леонидович Костин; born September 21, 1956) is a Russian banker who is chairman of the VTB Management board since June 10, 2002. Education and career In 1973, Kostin began stud ...
(President and Chairman of VTB Bank Management Board), Shahmar Movsumov (Independent member of supervisory council), Igor Repin (Independent member of Supervisory Council), Alexander Sokolov (Member of Supervisory Council), Vladimir Chistyukhin (member of supervisory council), Mukhadin Eskindarov (Member of Supervisory Council).


Financial data

Consolidated Statement of Financial Position as at 31 December 2021: net interest income – 646,3 RUB billion, net fee and commission income – 90,0 RUB billion, operating income before provisions – 822,7 RUB billion, staff costs and administrative expenses – -308,8 RUB billion, net profit – 327,4 RUB billion.


Major subsidiaries

VTB's major subsidiaries as of April 2022 were:


Sports sponsorships

VTB is one of the sponsors of all
Dinamo Moscow MGO VFSO "Dynamo" (russian: МГО ВФСО «Динамо»), commonly known as Dynamo Moscow (russian: Динамо Москва) is a Russian sports club based in Moscow. Founded by Felix Dzerzhinsky on 18 April 1923, Dynamo Moscow was the first ...
sport clubs. Since 2017, VTB Bank has been the title partner of the Russian
Formula 1 Formula One (also known as Formula 1 or F1) is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The World Drivers' Championship, ...
stage in Sochi – Formula 1 VTB Russian Grand Prix. Since 2016, VTB has been the tennis tournament VTB Kremlin Cup. VTB has also been the title sponsor of the
VTB United League VTB United League (russian: Единая Лига ВТБ) is an international professional men's club basketball list of basketball leagues, league that was founded in 2008. It is made up of mostly Russian clubs, along with one each from Belarus an ...
since 2008. Since 2005, VTB Bank has been the general sponsor of the
Kamaz Master Kamaz Master is the Russian motorsport team founded in 1988. It is a long-time winner and medallist of different motorsport competitions for many years. Gallery File:КАМАЗ 4326 (4х4) на ралли-рейде.JPG File:KAMAZ-Master truck ...
team, a team which has been active in re-known
rally raid Rally raid, also known as cross-country rallying, is a form of long distance off-road racing that takes place over several days. The length of the event can be as short as 2–3 days for a cross-country baja to as long as 15 days with marathon ra ...
such as
Dakar Rally The Dakar Rally (or simply "The Dakar"; formerly known as the "Paris–Dakar Rally") is an annual rally raid organised by the Amaury Sport Organisation. Most events since the inception in 1978 were staged from Paris, France, to Dakar, Senegal, ...
,
Silk Way Rally The Silk Way Rally ( rus, Шёлковый путь) is an annual rally raid type of off-road race. The first Silk Way Rally was raced in 2009 from Kazan, Russia to Ashgabat, Turkmenistan. From 2010 to 2013, the race has taken place in Russia. ...
and Africa Eco Race. Since 2013, VTB Group has been supporting the
Velobike Velobike (russian: Велобайк) is a bicycle-sharing system run by the city of Moscow, Russia. History The system was opened in 2013. In 2015 the 1st generation of the system was fully replaced by the Smoove-based solution using B’TWIN ...
, a
bicycle-sharing system A bicycle-sharing system, bike share program, public bicycle scheme, or public bike share (PBS) scheme, is a shared transport service where bicycles are available for shared use by individuals at low cost. The programmes themselves include bot ...
in
Moscow Moscow ( , US chiefly ; rus, links=no, Москва, r=Moskva, p=mɐskˈva, a=Москва.ogg) is the capital and largest city of Russia. The city stands on the Moskva River in Central Russia, with a population estimated at 13.0 million ...
, a project by the Department for Transport and Development of Road Infrastructure of the city. In 2018, the number of trips exceeded 3 million.


Sanctions

On 29 July 2014, the
Office of Foreign Assets Control The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency of the U.S. Treasury Department. It administers and enforces economic and trade sanctions in support of U.S. national security and foreign policy ob ...
(OFAC) published that the Bank of Moscow and VTB Bank OJSC, the second largest bank in Russia, has been added to the Sectoral Sanctions Identifications List. On 31 July 2014, VTB Bank and its subsidiaries was added to the European Union sanctions list due to its role in the Crimean Crisis that same year. On 6 August 2014, VTB was added to the Canadian sanctions list due to its role in the
Russo-Ukrainian War The Russo-Ukrainian War; uk, російсько-українська війна, rosiisko-ukrainska viina. has been ongoing between Russia (alongside Russian separatist forces in Donbas, Russian separatists in Ukraine) and Ukraine since Feb ...
and the downing of
Malaysia Airlines Flight 17 Malaysia Airlines Flight 17 (MH17/MAS17) was a scheduled passenger flight from Amsterdam to Kuala Lumpur that was shot down by Russian forces on 17 July 2014, while flying over eastern Ukraine. All 283 passengers and 15 crew were killed. Cont ...
. On 13 August 2014, United States clarifies entities under sectoral sanctions. United States increases its sectoral sanctions on VTB Bank together with its subsidiaries (“the VTB Group”) and the Bank of Moscow through its parent bank, VTB Bank OAO, and other entities that VTB has 50 percent or greater ownership either individually or in the aggregate, either directly or indirectly. Also, US persons cannot use a third party intermediary and they must use caution during "transactions with a non-blocked entity in which one or more blocked persons has a significant ownership interest that is less than 50 percent or which one or more blocked persons may control by means other than a majority ownership interest." On 1 September 2014, VTB was added to the Australian autonomous sanctions list for Russia, Crimea, and Sevastopol. On 12 September 2014, the United States issues a consolidated listing of directives associated with Executive Order 13662 sanctions during the crisis in Ukraine. For the Russian financial sector, Directive 1 was amended to increase the financial sanctions on the Russian financial sector for "all transactions in, provision of financing for, and other dealings" in new equity or new debt issued on or after 12 September 2014 to ''longer than 30 days maturity''. New equity or new debt issued from 29 July 2018 until 12 September 2018 was sanctioned if ''longer than 90 days maturity''. In 2015 the banks' chief Executive Andrei Kostin predicted loses for the bank in the years to come because of the plunging ruble accelerated by western sanctions. On 15 March 2017, Ukraine imposed sanctions against VTB Bank and subsidiaries because of the ongoing Russian interference in Ukraine. On 28 November 2017, the United States increases the Executive Order 13662 sanctions to the Russian financial sector. For the Russian financial sector, Directive 1 was amended to increase the financial sanctions on the Russian financial sector for "all transactions in, provision of financing for, and other dealings" in new equity or new debt issued on or after 28 November 2017 to ''longer than 14 days maturity''. New equity or new debt issued from 12 September 2014 until 28 November 2017 was sanctioned if ''longer than 30 days maturity''. On 27 November 2018, the
National Bank of Ukraine National Bank of Ukraine ( uk, Національний банк України) or NBU ( uk, НБУ) is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, includ ...
declares the Ukrainian subsidiary of VTB Bank insolvent due to its declining liquidity and worsening financial position. On 25 June 2020
European Court of Justice The European Court of Justice (ECJ, french: Cour de Justice européenne), formally just the Court of Justice, is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Un ...
rejected VTB and Sberbank bank's 2014 lawsuit against EU sectoral sanctions citing that regulators were within their aims of "''imposing a cost on the Russian government''" because of the latter's actions in Ukraine. The Court specified that intentionally ambigous language versions of the regulation (that the bank argued were wrongly applied) doesn't prevent the Court to from choosing one that fits best its general purposes. In February 2022, amid the Russo-Ukrainian crisis, US and EU officials were reportedly finalizing an extensive package of sanctions on VTB bank and other related Russian entities. On 24 February, after Russia launched a full-scale invasion of Ukraine, US president Joe Biden and British prime minister
Boris Johnson Alexander Boris de Pfeffel Johnson (; born 19 June 1964) is a British politician, writer and journalist who served as Prime Minister of the United Kingdom and Leader of the Conservative Party from 2019 to 2022. He previously served as F ...
announced new sanctions against VTB bank along with other Russian individuals and companies.


See also

*
Timeline of Russian interference in the 2016 United States elections This is a timeline of events related to alleged Russian interference in the 2016 United States elections. It includes events described in investigations into suspected inappropriate links between associates of Donald Trump and Russian official ...
*
Timeline of investigations into Trump and Russia (July–December 2017) The timeline of investigations into Donald Trump and Russia is split into the following pages: November 8, 2016–January 2017 * Timeline of post-election transition following Russian interference in the 2016 United States elections 2017 * Timel ...
*
East-West United Bank East-West United Bank is a bank based in Luxembourg, owned by Sistema. The bank offers private banking and corporate financing. East-West United Bank was established on 12 June 1974 as a "daughter" bank of the Soviet Union's Central Bank. History ...


References


External links


VTB corporate siteRussian websiteVTB ArmeniaList of Georgian Banks
{{DEFAULTSORT:Vtb Bank Banks of Russia Companies based in Moscow Companies listed on the Moscow Exchange Banks established in 1990 Russian brands Government-owned companies of Russia Russian entities subject to the U.S. Department of the Treasury sanctions Government-owned banks