The head of a top Russian state-backed bank downplayed media reports suggesting President Vladimir Putin has a vast secret wealth, stressing that the leader was "very much dedicated to his job," in an interview with CNBC on Tuesday.
Speculation on Putin's personal wealth increased in April when a massive anonymous leak of financial papers, known as the Panama Papers, allegedly showed a $2 billion money trail linking close Putin aides with offshore firms.
Andrey Kostin, the chief executive of Russian state-owned VTB Bank, poured cold water on the $2 billion sum on Tuesday.
"I don't believe that Mr. Putin has 2 billion, because even if he wanted to have, I don't know how he is going to spend them. I think those people are doomed for the rest of their life to live a life where everybody will be screening them or watching them and I don't think he is that kind of person," Kostin told CNBC in Moscow.
"He is very much dedicated to his job. He really wants to change Russia. And I don't think that earning the private wealth is something among his priorities in life … nobody ever saw this billion or even millions of Putin's money," he added.