The Bank of Russia sees risk of escalation of sanctions against Russia

The Bank of Russia sees risk of escalation of sanctions against Russia


MOSCOW, December 2. The Bank of Russia sees risk of escalation of economic sanctions against Russia, should be a major focus for the development and functioning of the financial market of the Russian Federation for the period 2016-2018, prepared by the CBR.

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The Bank of Russia published its first strategic document on the development of the financial market of Russia for the period 2016-2018.

“In the preparation of this document (“the Main directions of development and functioning of the financial market of the Russian Federation for the period 2016-2018″) accepted the hypothesis that the sanctions currently in force against Russia for geopolitical reasons, will not be lifted, and oil prices will fluctuate close to existing values. At the same time there is a risk of escalating sanctions that may negatively affect the possibility of implementing the proposed activities”, – the document says.

The strategy also stated that the priority aims of the new strategy identifies increasing the level and quality of life of citizens of the Russian Federation, the growth and development of the real sector of the Russian economy and creation of conditions for growth of the financial industry.