The Bank of Russia is working to attract investors from friendly countries

The head of the Bank of Russia, Elvira Nabiullina, said that the regulator is doing “a lot of work” to attract investors from friendly countries to domestic financial markets. She stated this at a speech in the Federation Council.

“Now, for obvious reasons, we focus mainly on the domestic investor, but we must create conditions for the arrival of investors from friendly countries. This is not so easy, because we need to build new channels of interaction and provide both investors and foreign economic activity with a more comfortable environment for settlements and payments,” said Ms. Nabiullina (quoted by TASS).

According to the head of the regulator, to attract investors, Russia uses settlements in national currencies, and also uses infrastructure for settlements and payments that is not subject to sanctions risks. The opening of branches of foreign banks, partnership financing, remote identification for foreigners and much more also contribute to attracting investors, Ms. Nabiullina emphasized.

In the report (.pdf) on the main directions of development of the financial market of the Russian Federation for 2023, 2024 and 2025, the regulator noted that in the near future the amount of funds attracted from friendly countries will be small, but in the future, foreign investment may be one of the sources of financing for the Russian economy in addition to domestic resources .

Erdni Kagaltynov