Russia needs export rethink but no capital controls, central bank chief says

© Reuters. FILE PHOTO: A view shows stacked shipping containers in the port of Saint Petersburg, Russia April 18, 2022. REUTERS/REUTERS PHOTOGRAPHER

(Reuters) – Russia’s central bank chief said on Thursday that Russia would need to rethink its export policy in the wake of Western sanctions.

Governor Elvira Nabiullina was speaking at Russia’s flagship annual economic conference in St. Petersburg.

She said a “substantial part” of Russian industry should start working for the domestic market, rather than rely on exports for revenue.