You are right, the financial sector was the first vietnam telegram data to take the brunt of the sanctions – many sanctions, not just those you listed. But overall, we
— Do you think that the sanctions pressure will only increase, in particular on the financial sector?
— It is absolutely impossible to predict the sanctions policy. But we calculate the scenario with increased sanctions pressure, every year we present [it] in the “Main Directions of Monetary Policy”. This risk certainly exists. The main thing we can do to counter this risk is to really ensure that there is macroeconomic stability, financial sustainability. Therefore, for example, we gave banks a wide range of concessions, and we began to exit them quite energetically. We believe that banks should again increase their [capital] buffers in case of various possible shocks. Not only sanctions, but there are shocks related to financial conditions, and so on — they should withstand [them]. Therefore, it is more an understanding of this risk and readiness for it.
Politico magazine called you “disruptor
of the year”, including for the fact that Russia has adapted to sanctions. Do you personally agree with this characterization? In your opinion, can we say that we have overcome everything? Or could new shocks lie ahead?
Difficult for me to comment on
the first part of the question, difficult. I believe that the Central Bank has conducted, is conducting and will conduct a policy aimed at ensuring that incomes do not depreciate due to high inflation, so that there is a stable financial sector, so that it allows creating content that boosts seo people and businesses to preserve their savings and provides financial resources for the structural restructuring of the economy. We see that the structural restructuring of the economy is agb directory proceeding quite quickly. And this is primarily due to the market nature of our economy, to business, which has adapted very quickly.
