Exclusive-Russia's VTB CEO says BRICS summit was a slap in the face for the West

MOSCOW - A summit of the BRICS countries held in the Russian city of Kazan in October was a slap in the face for Western nations which imposed sanctions on Russia, the CEO of Russia's second largest lender VTB Andrei Kostin told Reuters in an interview.

"Twenty three leaders came to Kazan for the BRICS summit. This is a certain statement, even a slap in the face to the Americans. It is significant that there is support for Russian initiatives and a rejection of U.S. policies," Kostin said.

"I think the summit was beneficial for Russia, and there will be further steps, it is important not to relax," he added.

Kostin said that Western sanctions on Russia did not work because there were "dozens" of countries willing to work with Moscow, including China, India and Turkey.

(Reporting by Elena Fabrichnaya and Gleb Bryanski; Editing by Andrew Osborn)