By Eliza Popova
Video Day estimation of the Russian Ministry of Finance takes into account significant strikes in the stock market, bank capital, as well as $ 300 billion of frozen foreign exchange reserves, the agency said. According to Bloomberg, this analysis was included in the presentation for a closed meeting of Russian officials. The meeting was held in August and was dedicated to response to sanctions.
The document only deals with losses for Russia's financial system, without taking into account the impact of sanctions on the country's economy as a whole. In particular, it is noted that such tools as derivatives, hedging, Eurobonds and the primary public placement of shares have "virtually disappeared". However, the presentation does not consider the broader economic consequences of restrictions that pushed Russia to recession, which will probably continue in 2023.
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