The Ministry of Finance called the most painful consequence of sanctions for the financial system of the Russian Federation

The most painful consequence of the imposition of sanctions for the Russian financial system was interruptions and difficulties with international settlements, said Ivan Chebeskov, director of the financial policy department of the Ministry of Finance of the Russian Federation, at a Kommersant conference. “Fintech in a new coordinate system. Vectors of development». At the same time, this problem has become a trigger for settlements in national currencies, he noted.

“The key pain is, of course, interruptions and difficulties with international payments. This is a problem that we have been working on since the introduction of large sanctions last year,” Mr. Chebeskov said.

At the same time, the Ministry of Finance sees that the problem is being solved. “Globally, this has served as a trigger for more and more countries to settle in national currencies, moving away from traditional systems and traditional settlement infrastructure. Yes, it is very convenient, and it was very convenient to use the dollar, given that when a business cannot use this tool, … everyone starts looking for ways, even if they may cost more in terms of transaction costs at the moment, ”added Ivan Chebeskov.

On the struggle of the Russian authorities with the consequences of sanctions against the financial system – in the material “Kommersant” “Pumping the financial account”.