Nabiullina: Russian savings sole financing source

Elvira Nabiullina, head of Russia's central bank, stated that Russian savings have become practically the only source of financing for the economy due to Western sanctions closing capital markets. Speaking at the Alfa-Forum, she noted that until 2022, Russian companies could borrow from European and US savings at low rates. Now, with global savings inaccessible, high inflation and high interest rates persist. The remarks highlight the impact of sanctions on Russia's access to foreign capital.