Russian Banks Imported Record Volumes of Euro TO Avoid U.S. Sanctions

Russian banks avoiding the threat of new sanctions are importing a record amount of euro into the country, while reducing the import of dollars. In July, a record amount of euro cash came to Russia through the banking sector in Russia, in an amount equivalent to more than $ 2 billion, reads the Central Bank statistics. During the same period, banks imported to Russia half the amount of dollars - just over $ 900 million. The European Central Bank has confirmed this trend in Russia. It coincided with the gradual abandonment of the dollar in external calculations announced in the country. Exporters began to think about this decision due to the fact that the United States is preparing to take measures against Russia that could actually prohibit Russian banks from working in America. In this case, the euro could be used as save haven currency. Earlier, the Chairman of VTB Bank Andrey Kostin told to Vladimir Putin the proposals to reduce the role of the American currency in the Russian economy and expand the use of the ruble in international payments. He asked the head of state to instruct the government and the Central Bank to support this initiative. Source: Radio Liberty