The Ministry of Energy assessed the assignment of the sovereign rating of the Russian Federation abroad

Obtaining a sovereign credit rating from the Chinese company China Chengxin International Credit Rating (CCXI) means the partners' trust in Russia and their confidence in the stability of the country's financial system. This was announced on May 19 by the press service of the Ministry of Economic Development of the Russian Federation.

"Receiving a sovereign credit rating from CCXI means the partners' trust in Russia and their confidence in the stability of the Russian financial system, which will further contribute to the development of economic and investment relations with the countries of the Asian region," the statement said.

The ministry noted that the Russian economy remains stable despite the sanctions pressure. Thus, the growth of the gross domestic product of the Russian Federation in 2023-2024 exceeded the global average. This made it possible to consolidate the country's position as the fourth largest economy in the world in terms of GDP.

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Earlier in the day, the media reported that Russia had received its first sovereign credit rating with a stable outlook after the start of a special military operation in Ukraine. It was clarified that CCXI upgraded Russia's rating to BBB+g with a stable outlook. In addition, the CCXI explanation notes that the economy is showing adaptation to external sanctions and remains resilient to external shocks.