Russia’s Reliance on US Financial Stability is Decreasing

A senior official of the Central Bank of Russia said today, Friday, that the dependence of the Russian financial system on financial stability in the United States has decreased.

Ksenia Yudaeva, First Vice President of the Central Bank of Russia, expressed her hope that there would be no default in the US. “First, we hope that there will be no lag. Today there are reports that negotiations (between Republicans and Democrats) are going with great success,” Yudaeva said.

Fluctuations in international financial markets have a limited impact on the Russian financial market, as it is “closed” due to sanctions and restrictions imposed on Moscow, the official said, but pointed out that there are indirect effects.

Today, the largest Chinese rating agency CCXI downgraded the US sovereign credit rating in light of the situation related to the US government debt ceiling.

Source: TASS

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