The Russian economy will be able to withstand possible US sanctions if they are introduced, Russian Finance Minister Anton Siluanov said. He noted that Russia has already created a safety cushion in the form of the National Welfare Fund (NWF). According to him, following the results of last year, the National Wealth Fund will be replenished by 3.1 trillion rubles.
“In general, we will withstand the restrictions that are being discussed today, but I think that things should not come to this,” Mr. Siluanov said in an interview with RBC television. If introduced, new restrictive measures will prohibit, among other things, transactions with Russia’s primary and secondary government debt. “This is unpleasant, of course, but it can be solved within the framework of our financial institutions that work for us. I think they will cope in case of such risks,” the minister said.
“In any situation when foreign states take sanctions against Russia, the task of budget policy is to minimize the impact of these restrictions on the country’s economy and the well-being of Russians,” said Anton Siluanov. Russia has already created an airbag in the form of the NWF, which will help protect the country’s economy from sanctions.
Earlier, a group of US senators prepared a bill on sanctions against Russia’s attack on Ukraine. The document proposes to impose restrictions on Russian President Vladimir Putin, Prime Minister Mikhail Mishustin, other members of the government and commanders of the armed forces, as well as a number of large banks at the choice of the US president.
Read more in the publication “Kommersant” “NATO Expansion for Public Debt”.
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