New sanctions pose no shock to economy

The blacklisting of 14 additional Russian banks by the West poses no systemic risks, as lenders were already prepared, the regulator says The latest Western sanctions against Russian banks will not cause a shock to the country’s banking system, the head of the Bank of Russia, Elvira Nabiullina, said on Thursday at the regulator’s annual meeting with commercial lenders. According to Nabiullina, the banks that fell under restrictions earlier have largely adjusted, while other banks had time to prepare for their potential blacklisting by reducing assets that can be blocked by sanctions. They also automatically became

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