Russia's finance minister Anton Siluanov sought to reassure investors that the country is still a safe and "very profitable" bet for firms looking to do business there.
Russia's economy is feeling the pain of sanctions imposed on the country since March, when it annexed the Crimean peninsula from Ukraine. The ruble has fallen 18 percent against the U.S. dollar so far this year and the sanctions have made it hard for Russian firms to access the dollars and euros they need to meet their overseas debt obligations. The deterioration in relations between Russia and the West has led to a surge in capital outflows from Russia.
"We are now facing some geopolitical shocks and we see artificial limitations imposed against Russia but we hope that these limitations would soon be lifted and we welcome all the foreign investors to come back to Russia and begin investing again," Siluanov told CNBC in an interview in Washington DC.
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