Date: 4 months ago   Category: Finance

Fitch expects mitigation of potential sanctions of the USA against the Russian banks — Rambler News Service


Photo: globallookpress.com the International rating agency Fitch expects mitigation of potential new sanctions of the USA against the Russian banks, follows from the press release of the agency. "The rigid character of potential new sanctions of the USA against the Russian banks will probably be softened in view of the aspiration to avoid essential losses at their American and international contractors. Introduction of very tough sanctions, in particular concerning large commercial banks with a big deposit base which could affect negatively their ability to serve the currency obligations is improbable" — it is said in the statement. Influence of other sanctions, including against a national debt, according to analysts, can be adequately maleficiated for banks at the expense of own resources and support from the state. The agency explains that U.S. authorities can take into account creation of difficulties for the American and international business at the expense of sanctions. Corresponding accounts allow the Russian exporters to convert dollar revenue into rubles for payment of the salary, payment to suppliers and payment of taxes. Restrictions on correspondent accounts can strike exporters, negatively affecting chains of deliveries, potentially with damage to the American and international companies and their investors. "Restrictions on corresponding accounts can also affect the Russian retail investors that will contradict statements of administration of the USA that sanctions aren't directed against ordinary people" — analysts note. The bills offered for consideration can also lead to freezing of the American assets which have fallen under sanctions. Besides, bills forbid investors to own from the USA new releases of a sovereign debt. According to experts, it can lead to negative revaluation of state papers in portfolios of the Russian banks and to weakening of ruble exchange rate. However the agency believes that at such scenario the Bank of Russia can help banks, having allowed not to carry out temporarily revaluation of papers at market value and to use a fair exchange rate for assessment of assets in foreign currency.

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