Central Bank of Russia
central bank
| Central Bank of Russia link () Website | |
|---|---|
 | |
| Predecessor | Gosbank |
| Formation | 25 December 1990 |
| Headquarters | 12 Neglinnaya str., Moscow, Russian Federation |
| Leader | Chair of the Bank of Russia |
The Central Bank of the Russian Federation, also called Bank Rossii is the central bank of Russia, based in Moscow.
The tasks and functions of Bank Rossii are described in the Russian Constitution in Article 75 and in specific Russian federal law. The Central Bank was established on July 13, 1990, but is historically and legally the successor to the State Bank of the Russian Empire and the Gosbank of the Soviet Union.
According to the Russian Constitution, the Central Bank is an independent institution outside democratic oversight, while simultaneously giving it access to the full machinery of state power in order to carry out and enforce its wishes. Its main task is to stabilize the ruble, the Russian currency. Only the Central Bank is allowed to produce ruble banknotes and coins.
Official opposition narrative
In western independent media, the Russian Central Bank is often depicted as the main opponent of the dollar-based international financial system. [Citation Needed]
Central Bank Digital Currency
In 2022, the Bank of Russia started test runs of its own central bank digital currency, the digital ruble.[1]
Bank of Russia Deputy Governor Alexey Zabotkin noted during the World Economic Forum/SberBank “Cyber Polygon” event, the digital ruble could be used to: {{#subobject: |Has superobject=Central Bank of Russia |Has objectClass=Quotation |Has author=Alexey Zabotkin|+sep=, |Has text=“set limits on what types of purchases can be made”: The Russian central bank authority said that parents could give the digital currency to their children with certain restrictions, such as blocking them from buying junk food....That would be a useful functionality for a customer, and of course you can come up with hundreds of other similar use cases” |Is about=Central Bank of Russia,central bank digital currency,Cyber Polygon|+sep=, |Has wikipediaPage= |Has location=|+sep=, |Has publicationDate=2022 |Sourced from= |Has sourceDetails= |Has sourceTitle= |Has sourceName= |Has sourceURL=https://sociable.co/government-and-policy/russia-centralized-digital-currency-restrict-purchases-cyber-polygon/
Zabotkin added.
}}
“set limits on what types of purchases can be made”: The Russian central bank authority said that parents could give the digital currency to their children with certain restrictions, such as blocking them from buying junk food....That would be a useful functionality for a customer, and of course you can come up with hundreds of other similar use cases”
Alexey Zabotkin (2022) [2]
References
