The financial sector of Russia suffered direct losses of hundreds of billions of dollars due to Western sanctions introduced after the invasion of Ukraine, Bloomberg reports, referring to the internal document of the Ministry of Finance of the Russian Federation.
According to the agency, this report was prepared for a meeting of senior Russian officials, held on August 29. The content of the document was confirmed by sources aware of the meeting.
The Ministry, according to the document, included direct losses: reducing the capitalization of the stock market by 40%; reduction of banking capital by 10%; 300 billion dollars of frozen currency reserves of the Central Bank; 4.6 trillion rubles of frozen eurobonds; 563 billion rubles of frozen retail assets.
The report does not give a general assessment of damage from sanctions.
The Ministry of Finance of the Russian Federation refused to comment.