Governor of the Central Bank of Russia, Elvira Nabiullina, said that the main problem after the sanctions imposed on the Russian Federation due to the start of the military operation is the blocking of international payments and private assets. She said this in an interview RBC.
As Nabiullina said, the Central Bank has been assessing the risks of increased sanctions since 2014 and was largely prepared for most of them.
In his opinion, the freezing of reserves of the Russian Federation has become a very negative signal for all Central Banks, because it means a violation of the basic principles of maintaining reserves.” The floating exchange rate and currency restrictions of the Central Bank of the Russian Federation, adopted in the spring of 2022 He emphasized that it helped him cope with this problem.
“The problem, that’s exactly the problem, international payments have become, although we try to solve them, they are still a problem. Of course, the blocking and freezing of assets of private individuals (millions of people who are not subject to sanctions, but find themselves with frozen assets) has become a very painful issue,” said the head of the Central Bank.
He does not rule out increasing sanctions pressure. Nabiullina added that the Central Bank is calculating such a scenario.
Before that, he was the head of the Central Bank of Russia statedThe regulator should have raised the key rate in the spring.
Previously Mishustin in the name Avoid excessive optimism.