The Central Bank (CB) of Russia promised that, together with the government, it would provide any necessary support to banks that fell under the sanctions of Western states. This is reported on site regulator.
As indicated in the Central Bank, all operations of banks in rubles and the provision of services to customers will be carried out as usual. “All client funds in foreign currencies are also saved and can be issued in the account currency,” the message emphasizes.
The Bank of Russia also announced its readiness to take additional measures to ensure the stability and continuous operation of credit institutions, in particular, to support them with funds in rubles and foreign currency.
Earlier, US President Joe Biden said that Washington would impose sanctions against large Russian banks, noting that their accounts would be blocked. The US Treasury specified that these credit institutions “play a significant role in the Russian economy, holding total assets of $80 billion.”
On February 24, Russian President Vladimir Putin announced that he had decided to conduct a special military operation to protect Donbass. The head of state also turned to external forces that might try to pose a threat to Russia. According to him, Russia’s response will be immediate.
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