Wednesday, April 20, 2022

"Russian Central Banker Nabiullina Gets Hit With Sanctions"

You knew this was coming, she's too good at her job.

And the sad thing for her was she didn't want to be nominated for her third five-year term:

Russia Central Bank Chief Wanted Out Over Ukraine, Putin Said No: Report

At her first press conference after the invasion she was in mourning for Russia, wearing funereal black.*

https://i.guim.co.uk/img/media/a94a3d966ea82bd2d30c5a80155d2dce0d7ff238/0_43_2880_1728/master/2880.jpg?width=620&quality=45&auto=format&fit=max&dpr=2&s=1a002bd20c047c41396325edb6c47dd9

From Bloomberg via Yahoo Finance, April 19:

Canada sanctioned Russian central bank Governor Elvira Nabiullina and 13 other “close associates of the Russian regime” in a fresh round of penalties related to the war in Ukraine.

It marks one of the first instances where Nabiullina has shown up on a country’s sanctions list since Russia’s invasion of its neighbor in February. Australia previously sanctioned her and the central bank itself has been sanctioned.

Nabiullina had sought to resign after Russian President Vladimir Putin ordered the invasion, only to be told by the president to stay, Bloomberg reported last month.

Putin’s daughters, Katerina Tikhonova and Maria Vorontsova, are also on the expanded list of Canadian sanctions, as is energy tycoon Igor Makarov, whose companies are a major shareholder in Calgary-based energy producer Spartan Delta Corp. Spartan shares fell on the news before paring losses to trade at C$12.12 in Toronto, down 2.9% on the day.

The measures were announced in a news release Tuesday and appear on the Canadian government’s website of sanctions related to the invasion....

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*From The Guardian, March 5:

Russia’s central bank head ‘is mourning for her economy’
Elvira Nabiullina, noted for her symbolic outfits, wore funereal black when announcing the economic response to sanctions 

Elvira Nabiullina could barely hide her unease. The governor of the central bank of Russia – famed for sending coded messages with her attire – had chosen to dress in funereal black as she warned about the devastating hit to the Russian economy from sweeping sanctions imposed by western governments in retaliation for the invasion of Ukraine.

With the rouble plunging by more than a quarter and queues forming for foreign currency, Nabiullina announced last Monday that the central bank’s key interest rate would more than double to a record 20%, to curb soaring inflation. In steps to cushion the blow for ordinary Russians, capital controls would be put in place, while the stock market would temporarily close.

Her choice of clothing, as well as an awkward appearance on TV with Vladimir Putin at an emergency meeting on Monday, have raised questions over what she really thinks about his decision to wage war. Ashen-faced and remote, did she really support the war?....

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