Moscow, Russia — One fourth of all investors in state securities have been forced to leave the Russian market due to sanctions, Russia’s Finance Minister Anton Siluanov said at a meeting of the Council for strategic development and national projects headed by President Vladimir Putin.
“We see that a considerable part of financial investors, foreign investors, have left the market. I would like to say that regarding investments in state securities alone those are one fourth of all investors. Moreover, there were also investments in enterprises, entities,” he said, according to TASS.
Amid those conditions the government has taken a whole number of important decisions for finding resources that will replace investors that have left and allow replacing the sources of funds required for development of the economy, the minister said.
Moscow’s incursion into Ukraine has made Russia the most sanctioned country in the world.
Washington had announced a ban on US entities participating in secondary markets for both ruble and non-ruble debt issued by Russia’s central bank, the national wealth fund and the finance ministry after March 1, 2022.
The European Union had agreed on sanctions that will target the ability of Moscow to access the bloc’s capital and financial markets as well as services and ban EU investors from trading in Russian state bonds.