May 23, 2018 / 5:10 PM / a month ago

Russia's VTB bank ready to allow Rusal to postpone loan repayments: TASS

MOSCOW (Reuters) - The CEO of Russia’s VTB Bank (VTBR.MM), Andrey Kostin, said on Wednesday the bank was ready to give aluminium producer Rusal more time to make repayments on its loans, TASS news agency reported.

FILE PHOTO: A police officer stands guard near a sign with the logo of the Russian lender VTB at the Moscow International Business Centre also known as "Moskva-City" in Moscow, Russia November 21, 2017. REUTERS/Maxim Shemetov

Russian metals tycoon Oleg Deripaska, who was sanctioned by the United States in response to Moscow’s alleged meddling in the 2016 U.S. presidential election and other activities, owns a 48 percent stake in Rusal.

Kostin has said VTB stopped lending to Deripaska.

Reporting by Vladimir Soldatkin; Editing by Adrian Croft

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