Russia: Sanctions Hurting, Bank Moves to Defend Ruble

The transcript discusses the economic impact of the Ukraine conflict on Russia, highlighting GDP stagnation and falling oil prices. Despite these challenges, President Putin expressed optimism at the APEC Summit, emphasizing Russia's stable macroeconomic situation and cautious fiscal policy. The Central Bank of Russia is taking steps to stabilize the economy, including targeting inflation and clearing banking sector balances. Russia's economic fundamentals, such as gold reserves and balance of payment, remain strong, and there are no plans to restrict capital flow.

What is one of the main economic challenges Russia is facing due to the conflict in Ukraine?

• Stable currency

• Falling ruble value

• Increasing oil prices

• Rising GDP

What approach is President Putin taking towards Russia's fiscal policy?

• Increasing public debt

• Reducing gold reserves

• Aggressive spending

• Cautious and balanced

What is the Central Bank of Russia focusing on to stabilize the economy?

• Increasing public debt

• Introducing capital flow restrictions

• Targeting inflation

• Reducing gold reserves

What is the Central Bank of Russia doing to the banking sector?

• Clearing balances

• Introducing new taxes

• Increasing interest rates

• Reducing inflation

What is the status of Russia's gold currency reserves and balance of payments?

• In need of emergency measures

• At good levels

• Below average levels

• At risk of depletion