Russian PM orders Finance Ministry, CBR to update financial market strategy by Dec 1

MOSCOW. Sept 13 (Interfax) - Prime Minister Mikhail Mishustin has ordered the Finance Ministry and Central Bank to update the strategy for the development of Russia's financial market to 2030 by December 1.

The strategy is supposed to be revised taking into account the president's instructions and the current geopolitical situation, the government press service reported, citing a list of instructions Mishustin issued after a strategic session on the development of Russia's financial system held on August 30.

Mishustin said at the session that the financial system needs substantial fine-tuning due to sanctions and restrictions. It is necessary to establish effective mechanisms that will make it possible to provide the economy with the financial resources it needs, maintain the continuous operations of businesses and industries, and thus preserve jobs, he said.

"All these aspects will be taken into account in the revision of the strategy. The government expects the updated draft of the document no later than December 1," the press service said.