Constitutional reforms in Russia were a surprise to everybody and only President Vladimir Putin knows if he will carve out a niche for himself once his presidency ends in 2024, according to Andrey Kostin, president and chairman of Russia's VTB Bank.
Andrey Kostin, chief executive officer of VTB Bank PJSC,looks on during a panel session at the World Economic Forum in Davos, Switzerland, on Thursday, Jan. 19, 2017.Constitutional reforms in Russia were a surprise to everybody and only President Vladimir Putin knows if he will carve out a niche for himself once his presidency ends in 2024, Andrey Kostin, president and chairman of Russia's VTB Bank, told CNBC Tuesday.
A key part of the plans would beef up the powers of the State Council, a largely ceremonial advisory body led by Putin, leading Russia watchers to speculate that Putin But Kostin, who leads the majority state-owned bank which is the second largest lender in the country, said the reforms were "unexpected for everybody" and they did not necessarily mean more powers for the president.
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