May 28, 2025 3:25 pm
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VTB CEO: BRICS Summit a “Slap in the Face” for the West

BRICS Summit in Kazan Seen as Rejection of U.S. Policies, Says Russian Bank CEO

MOSCOW, Dec 2 — Andrei Kostin, CEO of Russia’s second-largest lender VTB, claimed that the October BRICS summit in Kazan was a significant diplomatic win for Russia and a direct challenge to Western nations, particularly the United States. Speaking in an interview with Reuters, Kostin described the summit as “a slap in the face” to the U.S., highlighting the participation of 23 leaders from BRICS countries who expressed support for Russia’s initiatives and a rejection of U.S. foreign policies.

Kostin emphasized that the presence of these leaders underscored the growing alignment of nations outside the West with Russia’s stance on global issues. Despite facing ongoing Western sanctions, he argued that Russia’s economic ties with countries such as China, India, and Turkey were more than sufficient to counteract the effects of the sanctions.

While acknowledging that Russia’s diplomatic standing had been bolstered, Kostin warned that the country must continue to push forward with its initiatives, stressing the importance of not becoming complacent in the face of ongoing international challenges.

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