Anya Andrianova Profile picture
Aug 10, 2018 8 tweets 5 min read Twitter logo Read on Twitter
THREAD 1/ Russia's economy has built enough stamina to weather new sanctions – huge reserves, budget surplus, low #inflation
2/ Russia's yield rose after the sanctions announcement, but from macro point of view, sanctions on new #ruble debt won't be catastrophic
3/ In response to the ruble weakening on the sanctions news, Russia's central bank reduced planned purchases of FX and the ruble pared losses after that step
4/ The Bank of Russia learnt its lesson in 2014-2015 and now is ready to employ all the same tools if there are risks to financial stability
5/ Russia has been sanctioned on different accounts and with various measures, and there are no signs that any of them will be lifted anytime soon. What to make of them? New penalties may come as early as Aug. 22
6/ Russia might have seen the fastest growth in the second quarter and will see deceleration in the second half of the year, before growth will slow down even further in 2019 over planned value-added tax increase
7/ Moody's says Russia's monetary and fiscal policies made the country less vulnerable to the threat of deeper sanctions, as the regulator stepped up its game since April, creating a shield against #sanctions
8/ #Russia is "more prepared" to this wave of sanctions than in April, according to Renaissance Capital. The Bank of Russia lowered its exposure to dollar by selling U.S. Treasuries it had in the international reserves

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