(MENAFN- Trend News Agency ) The Russian banking sector may lose 100 billion rubles ($1.6 bln) because of the US sanctions, according to a report on monitoring the economic situation in Russia conducted by the Russian Presidential Academy of National Economy and Public Administration (RANEPA), TASS reports.
"The sanctions will affect the Russian banking sector, where the losses may reach 100 billion rubles due to a revaluation of capital and a weak financial result, which will be affected by low demand for expensive loans from the private sector. This will amount to more than 6% of the banking sector's profit the Bank of Russia expects in 2018 (1.5 trillion rubles ($24 bln))," according to the study.
According to the authors of the monitoring, the instruments launched by the state - sovereign Eurobonds, as well as new Russian offshore zones - may help it restore the capital.
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