Russia must prepare for increased pressure from international sanctions, said the head of the Russian central bank, Elvira Nabiulina, reported the “Kyiv Independent”, quoted by BGNES.
“Of course, it’s tempting to think that we did well in 2022 and now we don’t care about anything in the world,” Nabiulina said. “But we have to prepare for increased pressure from the sanctions side.”
Russia is addressing the main challenges in the financial sector, she said, but even in this area, some problems have not been fully resolved, including cross-border payments.
More: US imposes sanctions on financial institutions helping Russia circumvent restrictions
“For us, long-term money in the economy is a challenge. It is not only about long-term loans, but also about capital markets,” said the head of the Russian central bank.
Among other challenges facing the Russian economy is maintaining the pace of innovation amid limited access to foreign resources, Nabiulina added.
The comments about preparations to step up sanctions pressure come as the US and EU announced additional measures targeting Moscow’s wartime revenue.
On December 22, US President Joe Biden signed a new executive order to strengthen US sanctions against Russia and target financial institutions that support Moscow’s war effort.
More: Peskov: Russia will bypass sanctions for Russian diamonds in the EU
The twelfth round of EU sanctions against Russia, passed on December 18, included a ban on Russian diamonds, restrictions on Moscow’s acquisition of military goods and tighter controls on the $60-a-barrel oil price cap, among others measures.
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2023-12-25 19:37:18
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