Moscow says he is unable to access 300 billion dollars worth of financial reservations due to Western sanctions over the lesson invasion of Ukraine.
“It’s about half of those reservations we had,” Finance Minister Anton Siluanov told Russian state TV channel Rossiya-1. “We have a total amount of reservations of about $640 billion. Currently we cannot use about 300 billion dollars of these reservations.
Because of with funds frozen by the United States, the European Union and other nations, Russia has problems fulfill certain obligations and pay certain debts, the minister Explain.
Siluanov said some of gold and currency reserves were held in the Chinese yuan and that the West was pressuring on Beijing will restrict trade with Moscow.
However, the minister said he was convinced that relations with China would stand while reiterating that debts to “hostile states”, such as the US and EU countries would only be paid in rubles.
The coffers of Russia are still relatively full despite the war and the resulting sanctions thanks to billions in sales revenue of gas, oil and coal.
the minister swore that the Russian state support Western-sanctioned banks. He also assured that there was enough money maintain production of essential goods.
“The center bank will provide the necessary liquidity to the financial system”Siluanov said, adding that special the focus would be on food prices.
