Sanctions do not prevent Russian banks from generating strong profits, expanding — Kremlin

"As for the illegal sanctions and external restrictions imposed on our banking system, this is not a new phenomenon. You know that our largest banks have been under sanctions for a long time. This does not prevent banks from generating strong profits, developing, maintaining full stability, and preserving their highest reliability ratings," he said. Peskov also noted that companies operating in the market provide the full range of services related to foreign trade transactions.

The general situation in Russia's banking sector remains completely stable and under control, Peskov added. "Just yesterday, during a meeting with the government, the president said that despite certain difficulties and certain trends related to investment restraint or slowing activity, the situation nevertheless remains absolutely stable and fully under control. The same can be said about the banking sector," the Kremlin spokesman stated.

He also stressed that Russia's financial megaregulator has repeatedly pointed this out, noting that it is closely monitoring the situation and taking the necessary measures to maintain stability in the banking sector.