Join us for a Google Hangouts discussion on Wednesday, October 15, at 9 a.m. EST and find out what steps Russia is considering in order to protect its financial sector.

Market players say that the attack on the ruble is at its most acute since the spring of 2014. Photo: Reuters

Western-led sanctions have negatively affected the Russian financial sector by increasing inflationary pressures within the economy, making it more difficult for borrowers to access the global capital markets, and weakening the Russian ruble against the U.S. dollar and the euro.

These consequences have led to the Russian government exploring ways to protect the financial sector and broader economy against sanctions – everything from the creation of a new national payment system to the launch of new currency measures to support the ruble.

In response to these developments, Russia Direct is hosting a webinar – “Russia’s strategy against financial sanctions” – that will cover the following questions:

 - How will sanctions against the Russian financial sector affect it?

 - What steps is Russia ready to take to protect its economy and financial sector and how realistic are these initiatives?

 - What do all these measures mean and what are the possible consequences for both ordinary Russians and foreign investors?

Video by Pavel Inzhelevsky

Moderated by Ksenia Smertina, the Associate Publisher of Russia Direct, the webinar will include the following participants:

 - Oleg Buklemishev, Director of the Center for Economic Policy Studies at Moscow State University’s Department of Economics, Associate Professor in the department of Economics at Moscow State University (MGU);

 - Birgit Hansl, World Bank’s lead economist for the Russian Federation, Europe and Central Asia;

 - Christopher A. Hartwell, President of the Center for Social and Economic Research in Warsaw, a Research Professor at Kozminski University, and Visiting Fellow at the Institute for Emerging Market Studies, Moscow School of Management - SKOLKOVO.

Interested in participating in this Russia Direct webinar? Head over to Russia Direct’s Google+ Channel on Oct.15, at 9 a.m. EST (5 p.m. Moscow time), where the entire event will be broadcast live.

Send questions for the participants in advance by sending an email to:

Also read our RD Brief, “Moscow’s Strategy Against Financial Sanctions,” which outlines the Kremlin’s response to sanctions and presents a set of recommendations for how to deal with increasing economic pressures.