Nabiullina said about the resilience of the Russian financial sector to sanctions

Currently, the Russian financial sector is quite resistant to Western sanctions, and the specialists of the Central Bank of the Russian Federation are pursuing such a policy so that this stability does not decrease. This was announced on July 25 by the head of the regulator, Elvira Nabiullina, at a press conference following a meeting of the Board of directors on monetary policy.

She noted that for the West, the financial sector is one of the targets for the application of restrictions, which are constantly being tightened. This has been happening regularly in recent years.

"We always understand this risk, we know that it exists. <...> In general, according to the assessment of the financial sector's resilience to these sanctions, it seems to me that it has already shown through practice and experience that it is quite stable. And we are pursuing such a policy so that this stability does not decrease," Nabiullina said.

The head of the regulator added that Russian banks often complain about the strict regulation conducted by the Central Bank of the Russian Federation, but they consider it very important to maintain the safety margin of the banking system.

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The Chairman of the Federation Council, Valentina Matvienko, noted on July 24 that sanctions against Russia are not only hitting Europe, but can also seriously shake the global economy. She noted that Russia would prepare in advance measures that would offset this illegal economic pressure on the national economy.