Support The Moscow Times!

Russia's VTB Has Suffered $674 Million Loss Over Ukraine Crisis

Russia's second-largest bank, VTB, has lost around 26 billion rubles ($674 million) so far this year due to the Ukraine crisis, Russian news agencies quoted the bank's chief executive as saying on Monday.

VTB's Andrei Kostin also said at a meeting with President Vladimir Putin that the bank's losses due to Ukraine could double by the end of the year, Interfax and RIA news agencies reported.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.