“The need for devaluation is due to the fact that, due to sanctions, at any time the central banks of Western countries can prohibit Russian banks from any operations in these currencies,” the economist explained.
She added that, in her opinion, only the Chinese yuan will now be available to Russian legal entities from all the world's reserve currencies.
"The rest of the world's reserve currencies are the currencies of unfriendly countries," Milchakova said.
According to her, devaluation will have almost no effect on the population of Russia.
“With the exception of previously introduced restrictions on the withdrawal of foreign currency from deposits and a possible ban on Russian unqualified investors to purchase foreign securities,” the expert concluded.
Earlier it became known that the Central Bank of Russia will contribute to the acceleration of devaluation in the country.