The head of the Bank of Russia, Elvira Nabiullina, after the Russian invasion of Ukraine, tried to resign of her own free will, but ran into the refusal of President Vladimir Putin.
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The official tried to quit after the imposition of sanctions against Russia. However, the Kremlin made it clear to her that the resignation at such a time would be perceived as a betrayal of the president.
On March 18, Putin proposed to the State Duma that Nabiullina be appointed for another term in office. She has headed the Bank of Russia since 2013, and her second tenure will end in June of this year.
The head of the central bank did not publicly comment on the possible continuation of work for another 4 years. After the outbreak of the Russian war against Ukraine and the imposition of sanctions, she recorded an appeal to the employees of the Bank of Russia, in which she called the state of the economy an “extreme situation.”
Bloomberg’s anonymous interlocutors at the central bank’s leadership described the prevailing sentiment there as “a state of hopelessness.” The managers of the Bank of Russia allegedly fear that their market-oriented skills will soon be of no use, because the Russian Federation will be isolated.
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