Russia: We want to maintain ties with global markets

Elvira Nabiullina, President of the Russian Central Bank, in her speech at the “Russian Stock Exchange” event held in the capital Moscow, said that they evaluated various scenarios regarding the frozen assets of Russia in Western countries.

Noting that they have implemented various measures for some of the Russian companies whose assets were frozen, Nabiullina said, “However, exchanging frozen assets collectively (with assets frozen in Russia) is a political issue and the approval of all parties is required. I don’t think this will happen in the near future.”

Nabiullina also said that Russian companies have managed to recover about 3 trillion rubles (about $37.5 billion) of frozen assets.

Stating that the Russian financial sector has become more closed due to the sanctions, Nabiullina said, “We have become more closed by necessity. However, in the current conditions, we need to maintain the connection of the Russian financial sector with the global markets as much as possible in order to attract investors from both friendly and unfriendly countries.”