Possible US sanctions against Russia's state debt may cause short-term fluctuations of ruble's exchange rate, but no systemic risks are expected, Central Bank Governor Elvira Nabiullina said on Friday
MOSCOW (Pakistan Point News / Sputnik - 19th March, 2021) Possible US sanctions against Russia's state debt may cause short-term fluctuations of ruble's exchange rate, but no systemic risks are expected, Central Bank Governor Elvira Nabiullina said on Friday.
Earlier in the month, media reported that the United States and the United Kingdom were mulling actions against Russia's government debt in response to the situation with opposition figure Alexey Navalny.
"Regarding the issue of US sanctions against the state debt, this topic is discussed all the time, we have talked about it on multiple occasions. If such sanctions are in place, there may be short-term liquidity swings, but on the whole, our amount of state debt is very small ... one of the smallest by international standards," Nabiullina said at a briefing, adding that the country has "all instruments for handling volatility at the finance market."
In February, Russia's Accounts Chamber announced that the country's state debt stood at almost 19 trillion rubles ($256.5 billion), or 17.8 percent of GDP.
