Russian Prime Minister Mikhail Mishustin said that the sanctions from Western countries were not a surprise and a plan to mitigate their consequences is already in place. According to Finance Minister Anton Siluanov, these measures include, in particular, capital amnesty.
“Whatever the reasons are called publicly, their main goal is to cause damage in one direction or another. The steps are expected, we have no illusions about such actions for a long time … We have made a number of decisions to support the economy, which, among other things, will be included in the plan of measures, and this plan will be presented in the near future. We will discuss it with you more than once,” Mr. Mishustin said during a meeting with his deputies (quote on the government’s Telegram channel).
What measures will be taken:
- Introduction of an obligatory 80% sale of foreign exchange earnings by exporters.
- Raising the key rate to 20%.
- Temporary suspension of placement of government securities. Their volume is planned to be reduced this year.
- Carrying out a larger amnesty of capital in order to guarantee Russian capital, which is currently located abroad.
It is noted that the government, together with the Central Bank, if necessary, will take measures “in order to maintain financial stability, including strengthening the capital base of commercial banks.” In addition, it promises to fulfill all social obligations.
About the consequences of sanctions due to the operation in Ukraine and the fight against them – in the material “Kommersant” “Russian Rial”.