Russian Banker Warns Asset Seizures Spook Business
State asset seizures in Russia are deterring major businesses from investing in their core operations due to fears of confiscation. VTB CEO Andrei Kostin noted that property rights remain a key concern as billions in assets have been seized.
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Russia state asset seizures worth 7.6 trillion roubles ($89.5B) are deterring entrepreneurs from investing in core operations due to confiscation fears. The warning came from VTB CEO Andrei Kostin during a banking forum on Thursday afternoon. Property rights have become a primary concern for business leaders across the country.
