MOSCOW, July 17 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
"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)