No decisions on the privatization of VTB have been made at the level of the government, VTB CEO Andrei Kostin said.

"I would not speculate on this issue. The market is very sensitive to such statements and there is no specific information, there is not even a plan and task from the government on this matter," Kostin said on Rossiya 24 television.

He emphasized that "privatization should take place when suitable market conditions are available." "Now they are difficult. I am not saying it's impossible, but we need to do serious, detailed work. The situation is difficult, including due to the sanctions," Kostin said.

"We will work cautiously and the time, volume and other things will probable become known later," Kostin said. "However, I can say one thing that now that the state will keep the controlling package of voting shares," the banker said.