Russia has tightened sanctions

Russia has tightened sanctions

Russian Finance Minister Anton Siluanov told Rosya-1 TV that half of the foreign exchange reserves of the Russian Central Bank are frozen due to sanctions.

“That’s about half of the reserves that we have. Altogether, we have about $640 billion in reserves, and we have about $300 billion in reserves now in a country that we can’t use,” Siluanov said.

Some of Russia’s reserves are in Chinese currency, the minister said, while Western countries are putting pressure on China to restrict trade with the Russian side.

“There will certainly be pressure (on the Chinese) to restrict access to our renminbi reserves. But I believe that our partnership with China will continue to not only maintain the cooperation that we have had over a period, but also multiply it from time to time when Western markets are closed,” Siluanov said. .

The minister stated that the debts owed to countries not friendly to Russia will be repaid in rubles.

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Opening photo: MTI / EPA / Maxim Sipenkov

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