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Russia's VTB says asset freeze could force it out of Ukraine market

Russia's VTB says asset freeze could force it out of Ukraine market
FILE PHOTO: A sign for the logo of VTB Bank on the top of a building is pictured behind a monument of Soviet state founder Vladimir Lenin in Stavropol, Russia July 17, 2014. REUTERS/Eduard Korniyenko -
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Eduard Korniyenko(Reuters)
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MOSCOW (Reuters) – Russian state lender VTB <VTBR.MM> said on Tuesday that it may be forced to leave the Ukrainian market and that its work there had been effectively paralysed after a court in Kiev ordered assets belonging to it to be frozen.

VTB said the court viewed its assets as Russian property and that it had frozen them in order to implement a ruling against Russia at an international arbitration court in The Hague in September.

(Reporting by Vladimir Soldatkin; writing by Tom Balmforth)

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