NINGBO MORE KASI TRADING CO.,LTD

Russia’s central bank makes clear ‘top priority’

According to the Russian satellite news agency website reported on July 4, the first deputy chairman of the Central Bank of Russia Vladimir Chisiyukhin told reporters that the Central Bank of Russia will make every effort to ensure that the use of the renminbi in settlement and investment continues.

Speaking at the Financial Congress of the Bank of Russia, Chistyukhin said: “In my view, it is clear that we will do everything to ensure that the use of the renminbi in settlement and as a means of investment will continue, to ensure that all mechanisms for the uninterrupted use of the renminbi are found and preserved, or even if some improvements are needed, new paths, new channels are found.” That is our priority today and I think we will do it.”

He added: “As you know, the Russian ruble and renminbi are today very important settlement currencies, both in the context of securing foreign economic activity and in principle in terms of the investment preferences of Russian residents, both individuals and legal entities.”

The sanctions on the Moscow Stock Exchange clearly “create additional fear for our international partners and for Russian investors who buy a certain currency through organized transactions,” he said.

In June, the United States expanded sanctions against Russia, including the Moscow Stock Exchange. Against this backdrop, trading in dollars and euros within the exchange was suspended.