MOSCOW – Russian President Vladimir Putin said on Thursday that money collected in one of the country’s two “rainy day” funds should be used for supporting domestic banks, as part of broader efforts to help Moscow to overcome its economic woes.Broadly shut out of external funding due to western sanctions over Moscow’s role in the Ukraine crisis, Russia’s largest banks such as VTB, Gazprombank and Russian Agriculture Bank are betting on the state support.”We have a large amount of internal savings, they should become effective investments,” Putin told in his union annual speech to members of parliament and other top …read more
Source: AsiaOne
