Elvira Nabiullina mentioned the most painful sanctions imposed on Russia: the restriction of international payments and the freezing of assets of private investors. There are still unresolved problems in the financial sector, but the authorities were able to respond to the main challenges of the sanctions, considers the head of the Central Bank.
The head of the Bank of Russia, Elvira Nabiullina, considered the most painful sanctions to be the restriction of international payments and the blocking of assets of private investors. The president of the Central Bank told RBC this.
Nabiullina noted that sanctions on international payments have become “precisely a problem” that they are still trying to solve.
The authorities were able to respond to the main challenges of the sanctions, despite the presence of other unresolved problems in the financial sector, the head of the Central Bank said. The president of the Bank of Russia also emphasized that “we must be prepared to increase sanctions pressure.”
According to the Ministry of Finance, as a result of the sanctions, Russian reserves worth $300 billion were frozen abroad, while the total volume of foreign exchange reserves of the Russian Federation was estimated at $640 billion.
Author:
Kirill Bilyk
Source: RB
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