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Russia avoided systemic crisis on financial market — Deputy Finance Minister

Alexey Moiseev noted that there are certain situations in individual financial organizations tied to external partners

MOSCOW, December 1. /TASS/. Russia was able to avoid a systemic crisis on the financial market, Deputy Finance Minister Alexey Moiseev said on Thursday.

"It is the end of the year, and we can already say that a systemic crisis has been avoided," Moiseev said, speaking about the state of the financial market.

He noted that there are certain situations in individual financial organizations tied to external partners, however, "There is no systemic banking crisis, nor problems with settlements or, in general, the movement of money around the country, nor a systemic crisis in any or all financial industries - insurance, private pension funds, and so on."

Earlier, the Bank of Russia said that the Russian financial sector was able to independently restore stability over the medium term, and there was no need for systemic additional capitalization.