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Banks find opportunity to work under sanctions — Central Bank chief

It does not mean there will be no such risks in the future but it is very important in this regard for the financial stable to remain stable, Elvira Nabiullina said

Russian Central Bank Governor Elvira Nabiullina Peter Kovalev/TASS

Russian Central Bank Governor Elvira Nabiullina

© Peter Kovalev/TASS

MOSCOW, December 20. /TASS/. Ninety-five percent of assets of the Russian banking sector are under sanctions but banks find an opportunity to work in such environment, Central Bank chief Elvira Nabiullina said at the press conference after the regulator’s Board meeting.

"I would like to remind that we have 129 banks under sanctions now; there were two times less of them a year ago. Approximately 95% of the banking sector assets are under sanctions. I should say that despite sanctions of such level, the banks remain resilient, find opportunities to work, and they coped with these challenges," Nabiullina noted.

It does not mean there will be no such risks in the future but it is very important in this regard for the financial stable to remain stable, the Central Bank chief said. "We are keeping a close eye on that and configure banking regulation to provide for that in the long run," she added.

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