“Sanctions are actually negative for everyone who is affected by them, they erode traditional trade ties and they decrease the potential for developing the economy and the potential for increasing workplaces,” Nabiullina said in an interview with CNBC television.
She said that the Russian economy could withstand any developments in the economic sense.
“We have both accumulated buffers and gold currency reserves, and we have introduced a floating currency exchange rate in order to absorb various shocks,” Nabiullina added.
The European Union, the United States and several of their allies have introduced several rounds of sanctions against Russia since 2014, accusing it of meddling in Ukraine’s internal crisis. The restrictions target several individuals, as well as Moscow’s banking, energy and defense sectors.
On Wednesday, an EU source familiar with the EU leadership told RIA Novosti that the sanctions would be extended until next January, without introduction of new restrictions.
Moscow has repeatedly denied its involvement in the Ukrainian conflict, and introduced responsive measures in August 2014, banning certain food imports from the countries that imposed restrictions on Russia.
Earlier on Thursday, Russian Economic Development Minister Alexei Ulyukayev said that Moscow would continue the food embargo if the European Union extended the sanctions.
