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President of the «Vneshtorgbank»: «Mister Putin was not involved in the Scam»

Andrey Kostin, President and Chairman of the Board of OJSC «Bank VTB» (before 2006 – «Vneshtorgbank»), gave an interview to Bloomberg Television during which he commented on the investigation carried out by a number of publications and organizations on the basis of diversion of materials Panamanian law company Mossack Fonseca that the President of the Russian Federation Vladimir Putin connected with offshore deals worth about $ 2 billion with participation of people from his «inner circle».

Kostin called this information «nonsense» and claimed that «Putin has never been involved in scams.»

«Nobody’s proved that Putin had anything to do with this, because his name is not there. I know Putin has offshore business, but what’s wrong with that?» – said Kostin, answering the leading question about the possible impact on business of the VTB. He also denied allegations that through the VTB subsidiary in Cyprus issued an unsecured loan to a close friend of the President, clarifies the website

According to journalists in 2008-2013, Sandalwood through a company registered in the virgin Islands, have passed on the transaction of $ 2 billion. According to the newspaper «Vedomosti», the company reports that in 2010-2012, she received a credit line of $ 650 million in a subsidiary of VTB Bank – Russian Commercial Bank (Cyprus) (RCB) without collateral and the repayment schedule.

President of the «Vneshtorgbank»: «Mister Putin was not involved in the Scam» 04.04.2016

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