Siluanov: the imposition of sanctions against state-owned banks will be unpleasant, but Russia has a “plan B”

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Силуанов: введение санкций против госбанков будет малоприятно, но у России есть «план Б»

lava of the Ministry of Finance of Russia Anton Siluanov at the meeting with international investors at the Spring meeting of the International monetary Fund spoke about “plan B” that Moscow is preparing for possible sanctions against Russian banks and the national debt.

“I always say if sanctions will be imposed on state-owned banks, the government and the Central Bank has the tools and all the opportunities, in order to maintain all customers, provide them with all the payments, cash withdrawals, cashless, both in dollars and in national currency. Here to connect with the Central Bank and the government. Therefore, we will respond”, — quotes the Minister RIA “Novosti”.

According to Siluanov, the Russian economy has reserves to withstand these restrictions and may be involved in the national welfare Fund.

The Finance Minister did not rule out that in the case of the flight of foreign investors from Russian government bonds Moscow will be able to borrow money on the domestic market, although at higher rates. “As for banks, here just need to ensure the performance of all their obligations. We have a list of decisions which must be taken in the event of such sanctions”, — the Minister added.

Recall that in early April in the U.S. Congress a bill was introduced, which involves the blocking of assets in the United States “two or more” largest Russian banks over the alleged Moscow’s intervention in the American elections. The law provides that similar sanctions against Russia should enter the European countries.

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