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Russia interested in stable euro — Prime Minister Medvedev

July 10, 2015, 13:21 UTC+3 MOSCOW
A part of Russia's foreign exchange reserves is denominated in the euro, and it is generally interested in the stability of the euro as a currency, the Russian premier says
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© Sergey Bobylev/TASS

MOSCOW, July 10. /TASS/. Russia is interested in the euro’s stability, considering that it holds a part of its foreign currency reserves in the single European currency, Prime Minister Dmitry Medvedev said at a meeting with VTB Bank CEO Andrey Kostin on Friday.

The risks associated with complex developments in the eurozone are borne not only by the euro area but also by the countries that have direct ties with it, the Russian premier said.

"The risks associated with such complex developments in the eurozone are borne, above all, by the eurozone and those who are directly bound with it. But at the same time, we should also take all this into account. I mean that a part of our foreign exchange reserves is denominated in the euro, after all. And we’re generally interested in the stability of the euro as a currency," Medvedev said.

"But in this case, we are just outside observers of these processes because we do not take decisions on the fate of Greece’s participation in the zone covered by the euro as a currency and naturally we do not have any relation to the accumulation or repayment of its debts," the Russian prime minister said.

"But, of course, we should take all these factors into account in customary banking practice and in the process of taking state decisions," Medvedev said, adding the situation in the Russian banking system was improving.

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