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 impact is the conflict in Ukraine having on Russia's economy?

What does the Bank of Russia predict for the GDP next year?

What fiscal policy is Russia planning to pursue according to President Putin?

What measures are being taken by financial authorities in Russia?

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