The losses of “VTB”, the second bank in Russia, amounted to 7 billion euros in 2022

VTB Bank, the second Russian bank, announced on Wednesday a loss of seven billion euros in 2022, due to the "unprecedented" sanctions imposed on it in response to the Russian attack in Ukraine , which led in particular to its exclusion from the international payment system SWIFT.

"In 2022, the" VTB "group faced unprecedented difficulties and challenges," the bank's financial director, Dmitry Pyanov, said in a statement to the group.

"We became the first target of the maximum possible sanctions, which led to great losses," Bayanov added.

Western countries imposed a set of sanctions on Russia because of the conflict in Ukraine, including the exclusion of major Russian banks from the international financial system "Swift" for money transfer.