Central Banks
Bank of Russia Governor Says She Is Bracing for More Sanctions
- Long-term money is a key challenge, Nabiullina told RBC
- US, EU announced further Russia sanctions over war this month
Elvira Nabiullina
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Bank of Russia Governor Elvira Nabiullina, who helped the Kremlin absorb the blow from sweeping sanctions over the invasion of Ukraine, said she’s preparing for a strengthening of penalties aimed at the country’s economy.
The restructuring of Russia’s economy is proceeding “quite quickly” as businesses adapt to the sanctions, Nabiullina said in an interview with RBC news published Monday. There’s a temptation to think “we are, as they say, knee-deep in the sea” after weathering the initial storm, though “we must be prepared for increased sanctions pressure,” she said.