Putin States Financial Market Volatility Has Hindered Investment, According to Reuters

Russian President Vladimir Putin stated that fluctuations in financial markets have hindered corporate investment decisions and emphasized the need to stabilize the situation.

He urged that both the government and the central bank should effectively utilize the tools at their disposal, highlighting the importance of curbing unproductive and speculative demand, regulating capital outflow, and monitoring the actions of key financial market participants.

Recently, the rouble experienced a significant recovery after reaching a near 17-month low of 101.75 against the dollar. This turnaround followed the central bank’s decision to increase its key interest rate by 350 basis points to 12%, alongside a rise in currency sales by exporters after consultations with Russian officials.