Nabiullina named the main factor in Russia's economic adaptation to sanctions.

The main factor that allowed the Russian economy to adapt to the "sanctions wave" was its market nature, Central Bank Governor Elvira Nabiullina stated at the VTB "Russia Calling!" forum.

The first key factor, she said, was that businesses demonstrated "maximum flexibility." "Second, we arrived at these events with accumulated financial stability. The budget is stable, the banking and financial system is stable, with a buffer that could be used," the head of the Central Bank said ( quoted by RIA Novosti).

Nabiullina noted that, despite raising the key rate to curb inflation, there has been growth in loans and investments, demonstrating "the financial strength and adaptability of the economy." She assured that the Bank of Russia, together with the government, will maintain price and financial stability. "But under these conditions, we must be able to grow at a high rate," the head of the Central Bank added.

Prime Minister Mikhail Mishustin spoke of Russia's ability to adapt to sanctions earlier this year, noting the development of domestic production and import substitution in various sectors. The Kremlin claimed that the Russian economy had developed a "certain immunity" to the imposed restrictions.

Following the outbreak of hostilities in Ukraine, the European Union imposed 19 sanctions against Russia. The United Kingdom , the United States , Canada , Japan , Ukraine , and other countries also imposed restrictions. A number of countries joined the EU sanctions . 

Moscow considers the sanctions illegal and demands their lifting. 

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