Peskov: Russian president thinks highly of Nabiullina's work

MOSCOW. March 18 (Interfax) - Russian President Vladimir Putin has again nominated Elvira Nabiullina to the position of Central Bank of Russia (CBR) Governor for a new term because he thinks highly of her work, Kremlin spokesperson Dmitry Peskov told reporters on Friday.

"Now, with the Central Bank bearing the additional burden of responsibility for maintaining macroeconomic stability (...), of course, the president is in regular contact with Nabiullina; the president has repeatedly given high marks to Nabiullina's performance and to the Central Bank as a whole. And we see that the logical extension was the putting forward of her candidacy for another term," Peskov said.

On Friday, the Russian President submitted Nabiullina's candidacy for CBR Governor to the State Duma.

State Duma Speaker Vyacheslav Volodin has instructed the Duma's Financial Market Committee to put this issue up for consideration by the State Duma Council on March 21.

Nabiullina's term of office as Central Bank governor expires on June 24, 2022. The head of the regulator is appointed by the State Duma by a majority vote of the total number of deputies. By law, the president must submit a candidate for the position of CBR governor for consideration by the State Duma no later than three months before the expiration of the term of office, that is, in the case of Nabiullina - before March 24.

Nabiullina has helmed the Central Bank since June 2013. In 2017, her powers were extended for another five years.