Sanctions won’t hinder Russia’s trade – minister

Russian Finance Minister Anton Siluanov said on Thursday Western sanctions would not limit Russia’s foreign trade.

In an interview with Nailya Asker-Zade on Rossiya-24 TV, Siluanov noted that Russia’s trade turnover and imports have been increasing despite the restrictions.

Siluanov emphasised that the sanctions primarily affect the countries imposing them, while the Russian economy continues to grow, with an expected economic growth rate of around 4 per cent this year.

He highlighted ongoing efforts within BRICS to establish alternative payment methods, including digital financial assets, to mitigate risks associated with Western currencies.

The minister also mentioned that Moscow’s initiative to modernise financial infrastructure and create depository links, insurance, and reinsurance mechanisms in foreign trade will be a key topic on the BRICS agenda.

Attribution: TASS

Subediting: Y.Yasser