The Russian economy achieved some stability and recovered the value of its currency, but the ever-changing economic landscape indicates the real crunch is yet to strike.
admitted this week that sanctions have pushed the economy to the brink as the country tries to maintain some semblance of stability.
Nabiullina credited the recovery to several measures the bank took to mitigate risk, including a higher key rate, capital controls, the suspension of trading for almost a month, support for banks’ borrowers and subsidized lending programs for small businesses. She argued that businesses will need to continue adapting in order to combat the sanctions, including finding "new partners" and "new logistics routes" to deliver products.
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