MOSCOW: Russia’s level of settlements, payments and trade turnover has not declined compared to 2023 despite the sanctions imposed agains...
MOSCOW: Russia’s level of settlements, payments and trade turnover has not declined compared to 2023 despite the sanctions imposed against the country, Finance Minister Anton Siluanov said commenting on the results of the strategic session on the development of financial instruments and payment and settlement infrastructure.
"We noted that, despite the sanctions imposed, the level of settlements, the level of payments and the level of trade turnover have not decreased compared to the same period last year," Siluanov said.
As the Finance Minister reported, the session discussed a number of measures to create "long money" in the economy, attract resources from citizens and businesses into new instruments that would allow these funds to be reinvested from savings into new investments and create new incentives for attracting such finances.
The authorities also developed plans to create tools that will facilitate the transformation of savings into investments and the creation of new jobs.
During the strategic session, the settlement and payment infrastructure was also discussed, the minister noted. According to Siluanov, the government needs to use digital financial assets, tools that allow cross-border payments. They include, in particular, cryptocurrency and clearing platforms. This will provide participants in foreign trade with the opportunity to pay for goods and services.
"We summed up the results and outlined the appropriate further steps to ensure financial sovereignty, which will be implemented next year," the finance minister concluded.
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