Unprecedented Sanctions Against Russia Failed to Disrupt Financial Stability, Says Mishustin

Unprecedented sanctions against Russia have failed to undermine its financial stability. This opinion was expressed by Russian Prime Minister Mikhail Mishustin at the Moscow Financial Conference.

“Unprecedented sanctions have been imposed against our country. However, the initiators have not achieved their main goal. They have not been able to disrupt our financial stability,” he stated.

Mishustin noted that the government, in collaboration with the Bank of Russia, has successfully mitigated the negative impact of unfriendly actions against Russian citizens and businesses. He mentioned that measures have been implemented to curb capital outflows and ensure the uninterrupted operation of banks and other profile organizations, while also strengthening the ruble's exchange rate.

The Prime Minister indicated that revenues from oil and gas exports have nearly doubled, which was an expected consequence of attempts to limit those exports.

Mishustin emphasized the necessity of facilitating the entry of foreign investors and securities into the Russian stock market. He stated that Russia is currently reorganizing its financial sovereignty, which requires the creation of an architecture that excludes the influence of third countries.

Additionally, Mikhail Mishustin addressed the potential for creating a multipolar system for international calculations, which, according to him, is possible by reducing the use of the dollar.