The Kremlin announced the ability of the Central Bank to ensure stability after US sanctions

The Central Bank is able to ensure stability in all markets, said presidential press secretary Dmitry Peskov, commenting on US sanctions against the Moscow Exchange,

“The Central Bank is a mega-regulator; it is able to ensure stability in all markets, which is what is being done,” he said ( quoted by TASS ). Peskov added that the Russian side is developing response actions “that will best suit our interests.”

On June 12, the United States significantly expanded sanctions against RUSSIA, including restrictions affecting financial infrastructure (the Moscow Exchange was blacklisted), cloud services and information technology, and LNG projects. Washington called the purpose of these restrictions to counter investments “in Russian sovereign debt, Russian corporations and leading Russian defense enterprises.”

The Moscow Exchange announced trading on the foreign exchange market and precious metals market for all instruments starting June 13. The exceptions will be currency pairs with the dollar and euro. Settlements in these currencies were excluded from the stock and money markets, as well as from the standardized derivatives market. The usual trading mode was maintained in the derivatives market.

As the Central Bank clarified, transactions with dollars and euros will take place on the over-the-counter market, and the official exchange rates of these currencies to the ruble will be determined using bank reports and information received from digital over-the-counter trading platforms. They added that legal entities and individuals will be able to purchase or sell currency through Russian banks.