VTB Group is ready to sell its business in Ukraine, but it did not still find the buyer, Member of the Supervisory Board of VTB Sergei Dubinin said to Lenta.ru, Economic Truth reports.

“We already attempted to sell this business, because there are no normal conditions for operation here. However, we cannot find the buyer. If in future we do not manage to sell Ukrainian subsidiaries, they will convert from assets to losses”, he noted. In the meantime, he emphasized that the reserves are already created for these losses.

He added that Ukrainian structures are not strategically important part of business of the group any more. “It’s just a pity that we lose our economic ties”, Dubinin said.

The VTB Supervisory Board Member also noted that Russian banks already incurred damages, and new restrictions will not change the situation significantly.  “The decision, proposed by the deputies of the Verkhovna Rada, can only draw the line”, he concluded.

It should be reminded that, on October 24, the group of deputies of the Verkhovna Rada brought in the draft law On Introduction of Amendments to the Law of Ukraine on Banks and Banking regarding the ban of activities of the aggressor country’s banks.

According to the explanatory note to the document, the aggressor country Russian Federation continues to maintain significant influence on the economy of Ukraine and the life of citizens through its own companies and banks on the territory of Ukraine”.

Previously VTB Chairman Andrey Kostin claimed that VTB Bank may sell its Ukrainian business as it sees no opportunities for its development.