Talking about recent turmoil in emerging markets, Siluanov said he agreed with comments made by U.S. Treasury Secretary Jack Lew at the G-20 meeting about the importance for developing economies to get their houses in order.
There has been some debate about whether developed economies such as the U.S. should be more mindful about the impact a scaling back of quantitative easing can have on international financial markets.
The Reserve Bank of India Governor Raghuram Rajan told CNBC on Saturday that a failure to address turmoil in emerging markets could have serious implications such as paving the way for another financial crisis.
(Read more: India central bank: Emerging markets 'on their own')
"No one was pointing fingers at anybody," Siluanov said, referring to the G-20 meeting.
"Actually the emerging markets had time to carry out their reforms, cut their fiscal deficit and remove the imbalances from their current accounts and balance of payments, and those who carried out these policies and reforms and implemented structural measures, they succeeded and those who didn't, they ended up in a difficult position," he added.
Siluanov said recent weakness in the Russian rouble was down to factors different to those that have battered other emerging market currencies in recent weeks.
The Russian ruble fell to an all-time low against a euro-dollar basket earlier this month, extending a slide that started in the middle of 2013 amid global risk aversion.
"You know it [rouble weakness] happened due to some uncertainties in the world economy and some slower growth in the Russian economy," Siluanov said.
"So in order to ensure the savings both the business enterprises and the general public looking at the other markets that go through uncertainty and unsustainability decided to convert some of their savings from the national currency into the foreign currency," he added.