The government divided the sanctions package into three groups.
A meeting on economic issues was held in the Kremlin under the chairmanship of Russian President Vladimir Putin, which was attended by Deputy Prime Minister Mikhail Mishustin and Central Bank Governor Elvira Nabiullina.
According to the Deputy Prime Minister, quoted by MK 8221, the Government of the Russian Federation has made decisions to support the economy, which will be included in the plan of measures, which will be announced soon.
Speaking about the reasons for the sanctions, Kremlin speaker Dmitry Peskov assessed the anti-Russian sanctions as heavy and problematic, but the Russian authorities have the potential to compensate for them.
In turn, Mishustin said that the United States, the EU and other countries aim to “restrain the development of the Russian economy.”
The Cabinet of Ministers divided the entire set of sanctions into three groups. The first included sanctions to restrict access to world markets. They include measures on sovereign debt, sanctions against the largest companies and credit institutions, including the Central Bank.
To support banks, it is necessary to rely on the capital of the Russian population and the funds of enterprises, as well as the NWF. The latter are planned to be used for exchange rate stability and budget lending of infrastructure.
According to Finance Minister Anton Siluanov, a capital amnesty plan has been prepared, larger than three – four years ago. It is assumed that this will help to return to Russia the funds previously withdrawn from it and not yet affected by sanctions.
In the second group, the government attributed restrictive measures on the import of high technologies required for strategically important sectors of the economy and the defense industry.
According to the head of the Ministry of Industry and Trade Denis Manturov, import substitution will help. He stated that the plans, which will affect 23 industries, include “1,000 items of raw materials, materials, components and finished products,” but the program itself and its financing are designed for 2022 – 2024.
The third group of sanctions included measures to curb the integration of the Russian Federation into the world economy. At the moment, due to sanctions, about 50% of exports, which were designed for the USA, Canada, Japan and the EU, have been lost for Russia.
The Government intends to refocus on the countries of Latin America, Asia, Africa and the Middle East. According to Manturov, business finds partial solutions by breaking into closed markets.
The meeting, to which all participants came in black, was held behind closed doors. The media showed only Vladimir Putin’s opening speech.
At the meeting, Anton Siluanov stressed that there will be no problems with the payment of pensions and other social obligations, because they will be fulfilled first of all, and there are finances for this. And the head of the Central Bank said that the system for transmitting financial messages will be able to replace the disabled SWIFT.
As for the ban on the use of gold and foreign exchange reserves by the regulator, it is compensated by the decision on the mandatory sale by exporters of 80% of revenue.
Later, Vladimir Putin instructed banks to keep rates on contracts (loans and mortgages) that were concluded before the Central Bank’s key rate was raised to 20%.
As Topnews wrote earlier, Vladimir Putin has restricted the export of currency abroad.