MOSCOW, July 25. /TASS/. The practice and the experience showed that the Russian financial sector is rather resilient to sanctions, Central Bank chief Elvira Nabiullina said at the press conference after the regulator’s Board meeting.

"Concerning the assessment of resilience of the financial sector to sanctions, it seems to me it has already proven by practice and by experience that it is rather resilient. We are pursuing such policy for resilience not to go down. That is why there are macro-prudential allowances, and the return to extra allowances, provisions that were before. It goes on track, maintenance of the capital reserve. Although, you know, the banks sometimes complain about us, and may be not sometimes but often, that our regulation is tough, but we believe very important to maintain the safety margin of the banking system," she said.

This is the most important to cope with any external shocks, whether sanction ones or merely from the side of the global economy, Nabiullina said. "Therefore, in broad terms, financial institutions themselves understand pretty well that this risk is in place. And they build up their risk management policy on the basis of such possibility. Therefore, I believe [they] are quite resilient to sanctions of such kind," she added.