Russian Central Bank promises to circumvent sanctions

The Central Bank of the Russian Federation is confident that it will be able to circumvent the EU sanctions on the Financial Messaging System (FMS).

This was stated by First Deputy Chairman of the Central Bank of the Russian Federation Vladimir Chistyukhin, The Moscow Times reports.

He claims that a way out of the situation will be found, and the "Russian SWIFT" will continue to operate.

"The sanctions pressure is a fact that will have to be taken into account in the practical activities of the Russian infrastructure, including the Financial Messaging System.

At the same time, we believe that we will find a way out of the current situation with our partners in order to continue the functioning of this system in the proper mode," Chistyukhin said.

In the 14th package of sanctions adopted last week, the EU banned European companies from connecting to the SPS and conducting transactions with those using it outside Russia. In fact, this is cutting off the offenders from the European financial system, the newspaper adds.

Author - Olena Madiak, 26/06/2024