MOSCOW, March 2 Reuters Russia39;s central bank said on Thursday that it would extend capital controls affecting foreign currency withdrawals and transfers abroad, warning that some economic sectors continued to feel the pinch from sanctions despite their resilience.
Russia39;s economic landscape changed drastically after it sent tens of thousands of troops into Ukraine last February, as Western sanctions cut its biggest banks from the SWIFT global payments network, curbed its access to technology and limited its oil exports.
The central bank and the government responded with sweeping capital controls, including a ban on sending foreign currency abroad to shore up the rouble and stabilise its banking sector.
Central Bank Governor Elvira Nabiullina, speaking at a banking forum near Moscow, said that while many of these restrictions had been lifted or eased, current economic conditions meant that several would remain in place.
Deadlines for restrictions like limits on withdrawing cash currency from bank accounts, money transfers abroad, and restrictions on withdrawals by nonresidents from 39;unfriendly39; countries are approaching, she said.
All of them will be extended.
Russia39;s economy has proved remarkably resilient in the face of tough Western sanctions, but analysts still predict a 1.9 drop in economic output in 2023, after an estimated 2.1 slide in 2022.
39;SYSTEMIC RISKS39;
Nabiullina warned of systemic risks to the banking sector as lenders scrambled to…