Possible US Sanctions On Russia's Finances Will Not Have Major Impact - Central Bank

The new US sanctions that could be implemented against Russia's financial system will not have a major impact on the country's economy, Deputy Director of Russian Central Bank's Monetary Policy Department Andrey Lipin said on Tuesday, adding that the Central Bank was prepared for various consequences.

MOSCOW (UrduPoint News / Sputnik - 25th September, 2018) The new US sanctions that could be implemented against Russia's financial system will not have a major impact on the country's economy, Deputy Director of Russian Central Bank's Monetary Policy Department Andrey Lipin said on Tuesday, adding that the Central Bank was prepared for various consequences.

"We do not see any serious changes that could drastically change the picture [Russia's economy]," Lipin said.

According to Lipin, the debated sanctions suggest, among other things, a ban on issuing Russian government bonds.

"[If there are] tougher sanctions, we will see how they will be implemented. Right now, we can assume lots of things that might happen. However, the Central Bank considers a lot of risk scenarios, so we are prepared for a wide range of consequences," Lipin said.

In August, a group of US senators introduced a bill envisaging the introduction of new sanctions against Moscow, including those targeting Russia's oil industry and transactions with the country's sovereign debt.