Sanctions motivate Russian banks to bring more euro than dollars

TEHRAN, Sep. 30 (MNA) – The threat of US and Europe sanctions against Russia has motivated Russian banks to bring into their country more euros than dollars, the CEO of Russian VEB development bank told TASS Sat.

"First, they (banks) have already brought great dollar amounts. Second, the threat of sanctions exists, though I hope that the US will not assume last resort measures. In this environment, a natural and simplest step is to transfer from payments in dollars to payments in euro," Russia’s VEB development bank Andrei Klepach told TASS news agency on Saturday.

According to TASS, the Central Bank of Russia released the data earlier this month, saying that Russian banks brought €2.1 bln in cash in July, the highest amount since 2014.


News Code 138210


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