Russia's Financial Sector in a New Environment
The financial market was the first to suffer the blow of anti-Russia sanctions. The ban on provision of financial services abroad for major Russian banks, the freeze on their overseas assets, disconnection from SWIFT, the removal of bank apps from Google Play and App Store, the pullout of major payment systems from Russia, the prohibition on imports of euro and US dollar bank notes to Russia - all of that has seriously tested the resilience and flexibility of the Russian financial system. The current situation is forcing Russian companies to overhaul their business models and look for alternative sources of investment. Meeting the new needs of businesses is a big challenge for the financial system. How will the Russian financial system develop under new conditions? Can limitations on capital flows be abandoned? What kind of support does business await from banks and the government? How can we stimulate investment in the Russian economy? How will the fintech market develop?
Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank
Ilya Torosov, First Deputy Minister of Economic Development of the Russian Federation
Sergey Khotimskiy, First Deputy Chairman of the Management Board, Sovcombank
Vladimir Chistyukhin, First Deputy Governor, The Central Bank of the Russian Federation (Bank of Russia)
Igor Shuvalov, Chairman, VEB.RF