Russia's VTB Bank says challenges Western sanctions in European Court

MOSCOW: Russia's second-largest bank VTB Bank said on Friday it had launched a legal challenge in a European Union court over Western sanctions imposed on the bank over the Ukraine crisis.

VTB Bank said in a statement that it would not elaborate on the terms of its legal challenge, in accordance with usual practice for such cases.

"We are appealing the decision of the European Council on punitive measures, imposed on VTB, which harm both the bank and its clients," VTB said. Sberbank, Russia's largest bank, also said on Friday that it had launched a legal challenge to sanctions in the Court of Justice of the European Union.