Nabiullina stated that there was no reason for government interference in the stock market.

The current situation on the Russian stock market does not require any government intervention, said Elvira Nabiullina, head of the Central Bank of Russia, at a press conference following a meeting of the Board of Directors on monetary policy on June 19.

"Yes, the market volatility is significant, but still it cannot be called extraordinary. And there is no reason to carry out any kind of intervention in the form of asset purchases," she said.

The head of the regulator added that fluctuations in the stock market are inevitable, but it is necessary to assess emerging trends "over a long period of time."

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At a press conference after the board meeting, Nabiullina also stated in response to a question from Izvestia that the Central Bank of Russia does not perceive calls from business and the public to lower the key rate as pressure. The head of the Central Bank of the Russian Federation noted that the decision on the rate is made by the Central Bank independently based on its own analysis.