Commodities & Energy

Reuters exclusively reports Russia's VTB plans to expand grain business and then exit

Reuters exclusively reports Russia's VTB plans to expand grain business and then exit

Russia’s VTB bank, which is expanding in commodities in a bid to create a national grains champion, will exit the sector once it has built up the assets in the next few years, its CEO revealed to Reuters. Andrey Kostin also said in an interview that VTB plans to start trading wheat via its Swiss operation and that it is in the final stage of talks to purchase half of the Taman grain terminal on the Black Sea.