Russian Finance Minister Anton Siluanov said that fluctuations in the exchange rate and stock quotes are short-term. At the same time, funds from the National Welfare Fund (NWF) were used to maintain stability in the face of a surge in volatility. Mr. Siluanov assured that, despite the sanctions, there are no risks to the financial stability of the Russian economy now.
“The economic situation in Russia is stable, enterprises are working normally. The government and the Central Bank will continue to provide the necessary support to the financial institutions of the Russian Federation,” the minister said at a meeting on the current economic situation in the country. He noted that Russians may have problems when using Russian bank cards abroad.
On the morning of yesterday, February 24, Russian President Vladimir Putin announced that he was starting a military operation in Ukraine. Western countries condemned Moscow’s actions, calling it an invasion, and responded with economic sanctions. In particular, the United States has included the Central Bank, the Ministry of Finance and the National Welfare Fund in a special list, which is subject to a number of financial restrictions.
Read more about the situation in Ukraine in the online broadcast “Kommersant”.