VTB CEO asks Putin to support de-dollarization measures for Russia

MOSCOW, Jul 13 (PRIME) -- Andrei Kostin, CEO of Russia’s second largest bank VTB, has asked President Vladimir Putin to support de-dollarization and de-offshorization of the national economy that the bank had prepared, at a Friday meeting.

“Our specialists have prepared a wide range of proposals aimed at further expansion of ruble’s use in international settlements, at development of the Russian market of Eurobond

and share placements, and at creation of other derivative instruments that only the West uses as of today. I think, we need to create our own instruments,” he said.

The measures should protect the national financial sector from external factors and support its development. Kostin asked Putin to consider corresponding rulings for the government and the central bank. “And (I am asking you to) support the course for further de-dollarization and de-offshorization of our economy if it is possible,” he said.

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