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Positive Outcome

Positive OutcomePositive Outcome

The head of Russia’s Vneshkombank believes the court ruling on western sanctions against the bank will be positive through a long process, VEB bank head Vladimir Dmitriev said Monday. “Our European partners make rapid decisions but when the subject is appealing these decisions, they hit the brakes. In my opinion, we have a good likelihood [of winning the appeal], but it will be slow, we’re talking two to three years,” Ria Novosti quoted Dmitriev as saying during a meeting at the Asia-Pacific Economic Cooperation summit in China. He added that the goal of the European court appeal was to remove sanctions imposed on the bank and not for compensation for lost income because of the sanctions.

Financialtribune.com