Central Bank of Russia

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Group.png Central Bank of Russia  
(Central bankWebsiteRdf-entity.pngRdf-icon.png
Formation25 December 1990
Headquarters12 Neglinnaya str., Moscow, Russian Federation
LeaderChair 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/SberBankCyber Polygon” event, the digital ruble could be used to:

“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]


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