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Sanctioned Russian Bank to Begin Money Transfers to Turkey

VTB Bank, Russia’s second-largest lender, announced last week that it would more than double the number of countries to which retail clients can transfer funds, with Turkey as one of the key new destinations.

Moscow and Ankara are poised to deepen their financial relationship by facilitating the flow of Russian money into the Turkish financial system, undermining the effectiveness of international sanctions against the Putin regime.

  • Sinan Ciddi
  • FDD

VTB Bank currently offers retail money transfer services for 11 countries but plans to expand to 25.

VTB Bank Deputy President-Chairman Anatoly Pechatnikov said, “The key destinations in the…

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