President Vladimir Putin opened an account in the Rossija (Russia) bank which was blacklisted by the US, the Kremlin said Monday.
"President's salary will be deposited to that account starting next month," Interfax news agency quoted Kremlin spokesperson Dmitry Peskov as saying, according to Xinhua.
Putin said Friday he was going to open account in the private Rossija bank in a symbolic gesture of support to the financial institution which was put on the US sanctions list over events in Ukraine.
Putin insisted that Rossija had nothing to do with the events in Ukraine and the bank's clients should not suffer, "especially because it bears such a nice name".
The bank is the only organisation on the Washington's sanction list. All other sanctions' subjects are persons.
According to the Rossija's corporate website, the bank was established in 1990 and has been one of the country's oldest private banks. It had been ranked among the top 20 Russian banks.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app