July 30, 2014 / 8:55 AM / 3 years ago

Russia's VTB says confident can raise capital despite sanctions

MOSCOW, July 30 (Reuters) - VTB, Russia’s second-largest bank by assets, said on Wednesday that it is confident it can raise capital if the need arises, despite being hit by the latest wave of Western sanctions.

Washington imposed sanctions on more Russian banks on Tuesday, targeting VTB among others. The European Union also warned it will limit access to foreign capital for state-owned Russian banks.

“We are confident we can raise capital if a need arises,” the bank said in a statement.

It also called the new measures “politically motivated, unfair.”

Reporting by Oksana Kobzeva; Writing by Lidia Kelly, editing by Megan Davies

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