Andrey Kostin, the CEO of Russia’s VTB bank, has made controversial comments linking the volatility of the country’s Central Bank key interest rate to the fact that its governor is a woman. In an interview with state-owned TV channel Rossiya 24, Kostin suggested that the unpredictable nature of the interest rate is due to the leadership of Elvira Nabiullina, who has headed the Central Bank since 2013.
Kostin’s remarks have sparked criticism and raised concerns about gender bias in the financial sector. His comments also come at a time when the Central Bank is facing increasing pressure to manage inflation and support the economy amid ongoing geopolitical tensions.
In addition to his controversial comments, Kostin has also been under international sanctions since 2018. Earlier this year, he was charged in the US with involvement in a scheme to evade sanctions and launder funds to maintain his luxury assets.
