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Post: Experts say the Central Bank met the first wave of sanctions with dignity

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Central Bank of Russia building in Moscow. Archive photo

Experts: The Central Bank became the destroyer of the plans of the West and the USA to freeze the Russian economy

MOSCOW, November 29 – RIA Novosti. The Central Bank, headed by Elvira Nabiullina, met the first wave of Western sanctions against Russia with dignity and then made conscious and timely decisions, helping it to become the “destroyer” of plans to freeze the country’s economy, experts from the asset management company say. Anderida Financial Group commented to RIA Novosti.

Politico called Nabiullina the main “destroyer” of the year in terms of monetary policy of the Bank of Russia; Thanks to this, it was possible to largely avoid the consequences of unprecedented sanctions for the country.

“Destroyer” is exactly in line with the spirit of the plans of the West and the USA and their desire to freeze the Russian economy as a result of the imposed sanctions. However, as reality shows, the Russian economy survived and did not stagnate, thanks to the rapid, balanced and timely decisions of the Bank of Russia,” experts say.

They note that previous crisis experiences also played a certain role – the 1998 crisis, the global financial crisis of 2008-2009 and the sanctions imposed on Russia in 2014. Therefore, the Central Bank immediately raised the interest rate to 20% per year and imposed foreign exchange restrictions to save the banking system.

“As a result, there was no outflow of funds; this was the first victory, the panic passed and the demand for deposits increased. Then it became easier to respond to difficulties, since the first challenge was met with dignity,” analysts said. He concluded.

Deputy Head of the Presidential Administration, Press Secretary of the President of the Russian Federation Dmitry Peskov - RIA Novosti, 1920, 19.11.2023

Peskov told how he prevented the economy from collapsing due to sanctions

Source: Ria

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