Russia (bbabo.net), - The introduction of new sanctions against the Russian banking sector and Russia's disconnection from SWIFT will affect the country's foreign trade performance, but the regulator - the Bank of Russia - has all the tools to support the banking sector and minimize the consequences in the event of such a development.
This is stated in the analytical report of the international rating agency S&P. "The Bank of Russia has a wide range of tools and significant opportunities to provide extraordinary support to those banks that may be affected by sanctions and to reduce the overall risks to the financial stability of the banking system. Taking into account the accumulated capital stock in the banking system, we can conclude that that the possible costs of the Russian budget to provide support to banks affected by sanctions may be limited," RIA Novosti quotes the company's report.
The international rating agency Fitch, in turn, said that the introduction of tough sanctions against Russia could negatively affect the country's sovereign rating and the rating of banks if any restrictions affect payments in foreign currency.
"U.S. sanctions on the secondary market for sovereign debt would put additional pressure on Russia's flexibility in terms of budget financing and foreign investment, while capital flight and the weakening of the Russian ruble could lead to a tightening of the current policy," the agency said. this will not materially affect macro stability or reserves, which include Federal Treasury cash and National Wealth Fund assets totaling 16.5% of GDP, and the highest in the 'BBB' rating category international reserves (17 months of current payments in foreign currency)"
A package of sanctions against Russia has been prepared in the United States in connection with the situation around Ukraine. These potential measures include, among other things, disconnecting the country from SWIFT, as well as restrictions on the operation of the Russian banking system. The largest Russian credit institution - Sberbank - has already stated that they are ready for all scenarios.
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