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During the meeting, the President instructed banks to retain the interest rates on mortgage loan agreements that were signed before the Central Bank raised its key interest rate to 20 percent.

The meeting was attended by Prime Minister Mikhail Mishustin, First Deputy Prime Minister Andrei Belousov, First Deputy Chief of Staff of the Presidential Executive Office Sergei Kiriyenko, Deputy Prime Minister Alexander Novak, Presidential Aide Maxim Oreshkin, Finance Minister Anton Siluanov, Central Bank Governor Elvira Nabiullina.

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President of Russia Vladimir Putin: I have invited you to talk about economic and financial matters.

Mr Mishustin and I have discussed this topic ahead of this meeting, having in view, of course, also the sanctions that the so-called Western community – the “empire of lies” as I have referred to it in my remarks – is trying to implement against our country.

Let us begin. The floor is yours, Mr Mishustin.

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