ST. PETERSBURG, July 14 - VTB may wind down its business in Ukraine if it is unable to sell its subsidiary banks in the country, the Russian state bank's head, Andrei Kostin said at the International Financial Congress.

"We would sell [the banks in Ukraine], but the catch there is that essentially no one that comes along, proposes, and they all say that [Ukrainian President Petro] Poroshenko gave them approval, no one can ultimately get approval [from the National Bank of Ukraine] to buy a bank," Kostin said.