Sanctions impact on economy not to be ignored - Nabiullina

EPA-EFE/ANATOLY MALTSEV

President of the Bank of Russia Elvira Nabiullina (pictured) stressed on Tuesday that the impact the sanctions have on the Russian and global economy should not be "downplayed."

"Sanctions are very powerful...it will be impossible to isolate oneself from their influence," underlined Nabiullina, speaking at a joint meeting of the State Duma committees. She further commented that the sanctions imposed by the West against Moscow pushed the economy into a period of structural transformation.

According to her, this transformation is breaking old economic ties and creating a need for the emergence of new ones.

Baha Breaking News (BBN) / AY