Russian Finance Minister Anton Siluanov confirmed that Russia's economy has overcome the first shock of Western sanctions imposed on it.
Russia Today website quoted Siluanov as saying today that "Russia will not default on its debts and will be able to pay in rubles if Western institutions are closed to it," stressing that the Russian economy will not be isolated or closed.
"Rationality in fiscal and budgetary policy will make it possible to withstand the most severe sanctions that Russia will have to face," he added.
In early April, the Russian Finance Ministry fulfilled for the first time its obligations under the Eurobonds towards foreign beneficiaries in the Russian ruble, and after that, the Russian Finance Ministry refuted reports about Russia's failure to fulfill its financial obligations.
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