24 Feb 2022 16:26

Measures prepared to protect financial markets, Russia's largest companies from sanctions, other threats - Russian govt

MOSCOW. Feb 24 (Interfax) - The Russian government has prepared measures to protect financial markets and Russia's largest companies from sanctions and other threats, the government press service said.

"The Russian government has made clear plans to protect financial markets and some companies from possible sanctions and other threats. Simulation (stress tests) of the consequences of the imposition of sanctions has been conducted as part of this work. Clear plans of action were created based on its results," the report said.

"The financial market and the largest companies are fully ready for their implementation," the report said.

"Russia now has sufficient financial resources to ensure the stability of the financial situation under conditions of sanctions and external threats," the report said.

"Auctions to place OFZ will be suspended in the coming weeks. A considerable amount of the temporarily available funds on the unified treasury account of the federal budget (more than 4.5 trillion rubles, with net borrowing projected at 2.2 trillion rubles in 2022) makes it possible to approach the placement schedule flexibly," the press service said.

The Russian Finance Ministry and the Bank of Russia will continue closely following the situation on the financial markets" and "will take additional measures to maintain financial stability if need be."

"The government of the Russian Federation will assist ensuring stable operation of the companies included in the sanctions list, keeping jobs and wages," the report said.