The Russian Central Bank speaks after the announcement of the sanctions imposed by the United States, Canada and several European countries on Moscow

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February 27 2022 16:27 GMT

He noted that the Russian banking system is stable, with “sufficient capital and liquidity reserves to function smoothly in any situation.”

Central Bank of Russia ad this sunday that “It has the resources and tools to maintain stability and ensuring the continuity of the work of the financial sector”, after the announcement of the imposition of sanctions on Moscow by the United States, Canada and several European countries.

The entity stressed that it will constantly provide banks with liquidity, as well as cash in rubles, and will take a series of measures to withstand the impact of the imposed sanctions. They also mentioned it The Russian banking system is stable, with “sufficient capital and liquidity reserves To work smoothly in any situation. All client accounts are protected and available at all times.

Finally, he confirmed that all banking services are available as usual. Bank cards of all banks in Russia continue to function normally.

Sanctions against the Russian financial system

United States, European Union, United Kingdom and Canada agreed this saturday Some Russian banks separated from interbank SWIFT system. This measure is part of the new sanctions package approved against Russia in response to the special military operation thrown Early Thursday by Vladimir Putin in Ukraine. his goal”Isolate these institutions from international financial flowswhich will severely limit its global activities,” the German federal government stated.

For its part, the European Union intends to “shell” the assets of the Russian Central Bank, according to what was reported announce Today, Saturday, the President of the European Commission, Ursula von der Leyen, announced a new round of sanctions against Moscow.

“We will paralyze the assets of the Russian Central Bank. This will freeze your transactions. “It will make it impossible for the central bank to liquidate the assets,” he wrote on Twitter.

According to the President of the European Commission, all measures were drawn up by the European Union in coordination with the United States, the United Kingdom and Canada. The group of countries said in a joint statement that they “are committed to imposing restrictive measures that prevent the Russian Central Bank from publishing its international reserves, undermining the impact of our sanctions.”

However, in recent years, the government and the Central Bank of Russia have been Reducing Gradually the country’s exposure to the US dollar, Reconfigure Its international holdings are in favor of other currencies and gold. International rating agencies had earlier said that Russia’s financial reserves would allow the country to deal with the negative effects of the sanctions, should they occur.

You can follow the development of the Russian operation in Ukraine in our update minute by minute.

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