Siluanov said that the ruble exchange rate will stabilize in the near future

The situation with the ruble exchange rate will stabilize in one or two weeks. This statement was made by Russian Finance Minister Anton Siluanov on December 5.

He noted that the volatility of the ruble exchange rate is associated with the introduction of sanctions against Gazprombank - the main participant in the country's foreign economic settlements.

"Our participants in foreign economic activity are finding ways of settlements with their counterparties abroad. I think a week or two, and everything will be in order," the minister said, his words quoted by RIA Novosti.

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On November 21, the United States took additional measures to restrict Russia's use of the international financial system. The United States imposed sanctions against the first Deputy Chairman of the Bank of Russia Vladimir Chistyukhin and Dmitry Tulin. Gazprombank also fell under the sanctions.

On the same day, Finance Minister Anton Siluanov said that the Western sanctions will not lead to restrictions on Russia's foreign trade. According to him, all restrictions by Western countries first of all hit them. Siluanov emphasized that in 2024, the dynamics of economic growth in Russia will be about 4%, while the dynamics of the West is "0.1% at best".

Western countries increased sanctions pressure on Russia after the start of the special operation to protect civilians in Donbass, which was announced on February 24, 2022.