Home > News > World
Thursday July 17, 2014 MYT 2:20:02 PM
Thursday July 17, 2014 MYT 2:21:14 PM
MOSCOW (Reuters) - The chief executive of Russia's VTB bank said on Thursday new U.S. sanctions imposed on Moscow over the Ukraine crisis were inappropriate and warned of potentially devastating consequences for the global financial system.
"Of course, these sanctions are inappropriate and of course they do not correspond to the spirit or the legal standards of existing international relations, in particular in the field of finance and banking," Andrei Kostin, whose bank is Russia's second largest, was quoted as saying by Itar-Tass news agency.
"I believe that if we do not take measures to stop such unilateral actions, we could see devastating consequences for the global financial system."
(Reporting By Timothy Heritage, editing by Elizabeth Piper)
U.N. warns of risks as Europe enjoys scorcher
Greece offers conditional okay to bailout, Germany sceptical
Singapore PM takes to the stand for hours in blogger defamation case
IAEA chief Amano heads to Iran as nuclear talks extended
Celebrate Raya in style with GEMFIVE
The 3 unexpected life events that leave us in debt
Paying off Greece's debt via crowd-funding
Trampoline fun abounds
Batu Gajah MCA division donates 20 wheelchairs to help move patients about
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)