Russian central bank chief: no risk to ‘financial stability’ from sanctions

Moscow (AFP) – Russian central bank chief Elvira Nabiullina said Tuesday that the country’s economy could withstand the latest US sanctions, while the ruble continued to plunge in value.

“The central bank has a broad spectrum of instruments in order to act in such situations, if risks arise to financial stability. In our view, there are not such risks now,” Nabiullina told a conference in Moscow after US sanctions announced Friday hit oligarchs close to President Vladimir Putin, prompting the ruble to fall on Tuesday to levels against the euro and US dollar unseen since 2016.