RUSSIA, February 24 - Russia now has sufficient financial resources to ensure the stability of its financial system during sanctions and external threats.

The Russian Government has formulated clear plans regarding measures to protect financial markets and certain companies from possible sanctions and other threats. As part of these efforts, specialists conducted stress tests simulating the consequences of various sanctions and later formulated clear action plans. The financial market and major companies are fully prepared to implement them.

Auctions for placing federal loan bonds (OFZ) will be suspended in the next few weeks. A substantial amount of readily available funding on the federal budget’s joint treasury account (over 4.5 trillion roubles, with net 2022 borrowing volumes stipulated at 2.2 trillion roubles) will make it possible to introduce a flexible loan placement schedule.

The Russian Ministry of Finance and the Central Bank of Russia will continue to closely monitor the situation on the financial markets. If necessary, they will take additional measures to maintain financial stability.

The Government of the Russian Federation will help facilitate the sustainable operation of companies affected by sanctions, and it will also help retain jobs and salaries.