they are only in advertising government support and the trust of tens of millions of customers. everything, this remains unchanged, as well as our responsibility to you. that is why everything will be fine with your money, as well as with the fulfillment of the dream of your own home and the ability to support loved ones at the most necessary moment. go to vtb and everything will work out. we have embedded the world economy, how the sanctions of the west have affected the companies that print money. this is called geopolitical blackmail. how much cash do we have in circulation trillions money supply? why are our banknotes made of paper, they are made of plastic and when to wait for a new hundred-ruble note, believe it is not far off better or worse than europe or america, we are protected from counterfeit coins.

the search for new logistics chains is going on in almost all spheres of our life. and how did the sanctions of the west affect the company that produces money and excise taxes on alcohol and tobacco. why international competition has turned into geopolitical blackmail how much cash we have in circulation and when to expect the appearance of new 100 rubles worse than europe or america, we are protected from counterfeiters and how our paper for banknotes surpasses them in power, we will talk about this with the head of the state sign, arkady torchuk. tell me how the sanctions imposed by the west affected the work of the state sign, maybe something has changed , something by definition could not be affected , definitely affected. uh, because we are embedded in the global economy as a supplier. e,

we produce banknotes and coins and other products. e more than for 30 countries of the world. and, of course, we immediately felt it, eh, but we also buy a number of components, and components for foreign customers, yes, and for our own activities, we currently buy and buy some components abroad, so the ban on the supply of certain components is limited in delivery in the organization of logistics certainly affect our activities, so we are thinking about how we can secure our activities in the future so that they are not interrupted and we can fulfill our obligations in front of our customers. well, what is the most critical logistics or the lack of some components. well, i don't know, there, maybe, there, but tension with paper or tension with some kind of dyes will not allow us to print passports or, uh, some amount of banknotes

, paper. we ourselves produce goznak one of the largest paper manufacturers in the russian federation, and for special types of paper, such as e- papers, security papers with the e watermark, we are one of the largest manufacturers in the world. uh, therefore, uh, in this part, we have no worries . no, rather, we are talking about. uh, really about some individual chemicals. there are uh individual colorant alternatives that are certainly on the market, but we uh have historically been set up and worked with certain suppliers. it was somewhere due to technology, somewhere due to historical relationships. uh, the reliability of suppliers, of course, a guideline. the price of the best samples and when did we lose the opportunity to use these best samples today, for example, according to chemists, we will certainly find a solution, not to mention, we have already found them, but this one still requires a certain adaptation of the processing

of technologies of some kind of experimental work. er, that's actually around this today our main concern is on the materials. well, and logistics one of the main main pains and i think that not only with us, because we are faced, as with import logistics, with problems related to the transport. uh, some things that didn't even get sanctioned, though. have questions. there is a reserve of time, what is called here, and a reserve of these here is chemists of materials and so on. and, that is, while the search and establishment of these new supply chains, suppliers and so on will continue, if you answer the question, then there are no worries. cash circulation is not for other tasks that goznak solves those issues that caused us the greatest concern. they have either already been resolved, or a solution has been found; it is being implemented, so there are risks. i don't

see big ones here. you said that we are one of the largest producers of security paper in the world. eh, here competition. you feel that it is changing somehow under the influence of this geopolitical situation that is aggravating. i wouldn't call it competition, when the organizers of tenders inform us from one country. you offered the best conditions, but we cannot give you the contract. uh, it's hardly called competition. this is called geopolitical blackmail. but, well, unfortunately, we have such examples here, if uh hmm but most, what is called urgent? but how much we currently have in circulation is on personal banks, but if in terms of money, then this is about in the area. twenty trillion, uh, a slightly larger supply of money currently in circulation is outside the banks. well, lately, it somehow changed under the influence of circumstances. i don't know, there are pandemics, uh,

sanctions and so on. it changes very sensitively and reacts instantly when a pandemic begins. uh, the pandemic has already turned. uh, during lockdowns, remote work and the like , the amount of banknotes, we remove them from gas banks. grew up as soon as people a little calmed down. they returned a significant part of the money back to the cash desks of the bank. ah. same. we saw now, you know, at the end of february at the beginning of march, when there were worries about exchange rates, when there was a feeling that the economy could be disciplined and we saw how much cash was in circulation in a very short period of time. with the same there 13 with a little trillion rubles. yes, more than 15, that is, almost two trillion in a short period of time, were issued by banks on personal money. but now we see another trend , we see how the volume of money in circulation began

to decline and has almost reached it. uh, the same meanings that were before uh, february 24th. tell me, here's how the self-image of money changes. uh, including the appearance of our ruble, and the materials from which they are made. this is how modern our ruble looks in relation to the euro and the dollar there. well , i’ll probably start with the happiness of design, because this is still a deeply subjective assessment, it seems to someone that it is modern and unique to someone it seems that it is secondary and repeats some motives of some other decisions. e. well, it would be, in my opinion, about just 200 rubles. which was a lot of talk that it looks like the land of the olympics. no, it's not. that was later. it was later . eh, these are 202.000 banknotes. they are really modern in terms of their perception of the image, but they stand out from

the crowd. wait, this is just the beginning of the central bank. said to be consistent will change all denominations and uh, denomination change. with rublev, believe me, it is not far off. everything that depends on the state sign in this part has already been done. and uh, it’s just that at a certain point in time and so on will be adopted by the central bank in and now , uh, just commercial banks, by the way, have recently requested to slightly postpone the period or determine some kind of procedure that will allow them to better prepare in connection with just with restrictions. uh, using a foreign account on an atm sorter, but still less this process has not stopped work, and in this direction is going on and, uh, consistently changing the design of banknotes will occur. and by the way, the concept, that is, the concept of design. it will be, uh, so, which was used on banknotes, uh,

200 rubles. and 2,000 rubles. here is what concerns the material from which banknotes are made. he's uh, conservative or uh. here, too, some searches are underway, including with the involvement of research workers of the state sign. and in which direction should we move there, suppose there were voices that let's move towards plastic. well, at least the international is a good topic, but in fact i would rather say that he is conservative, because the paper is still one of the best er, carriers of significant features and wins significantly. that, for example, plastic, it loses a little in terms of durability, e-e plastic, but in everything else it wins exceptionally, starting with environmental friendliness and recyclability. finishing. strictly speaking, the ease of handling the banknote. historically produced with e cotton whole vines for longevity treatment. e, and. but today

it is not even just cotton cellulose, this cellulose, which is impregnated, which uses complex compounds that allow you to increase the service life of a bankrupt one and a half to two times. a and. of course, there is no comparison, but we make it noticeably closer to banknotes from plastic. and at the same time, uh, unfortunately plastic, uh, which is used in banknotes. he is not very simple. uh, it's not uh mass plastic and more than that. it still does not produce balance in our country. uh cost balance life cycle balance subsequent disposal. eh, after all, we incline our customer. the bank of russia inclines towards the use of paper rather than plastic in terms of protection against counterfeiters. uh, how our ruble behaves in the future. uh, i

understand that there will be some additional protection decisions made or not required. in general, he behaves. pretty decent. he behaves decently. we have about seven pieces of banknotes per million banknotes in circulation may turn out to be counterfeit. that is it a very small amount comparable to the volume. so e counterfeit banknotes, for example, eurozone countries, e, and e are more than two and a half times lower than, for example, among dollar banknotes. uh, so at face value there somehow interest is changing, of course me. recently, the main volume of counterfeiting falls on banknotes of 5,000 rubles. this is quite natural, because the labor costs for manufacturing, that there is a hundred-ruble banknote, that five thousandths is comparable ah, criminal income. e is much higher, but nevertheless this complex

steps that have been taken recently to increase the requirements for banknote receiving devices, and in atms of banks. uh, those steps that are regularly taken by the bank of russia to increase the security and modernization of banknotes, they, uh, allow today to say that the risks of, uh, the growth of counterfeiting. no, but the bulldo , as i mentioned. on the horizon we have, uh, a change of banknotes and, of course, that on this day in new banknotes that will appear. there will be used new security features and new solutions, which also uh will make life difficult for a counterfeiter, but from the point of view of hmm scientific developments. what is the source of pride for you as the head of the company? we are proud of such developments that we are allowed to sell to other countries , namely, developments in the field of security, e-e

documents, banknotes, and so on. here, for example, is a whole series of protective features that have been developed by a scientific research institute. state sign licenses for them sold to a number of countries. uh, and it's not a secret. used enough not easy to explain uh without visual accompaniment. that is, it would be better to show, but uh, these are uh security features that we can see on russian banknotes today, which are really effective, which do not require any special devices for their identification. they can be seen with the eyes and are well explained on the mobile app. uh, banknotes of the bank of russia, uh, which, by the way, are also developed by the word and, as far as i know, some of my people use yes, but actually for this i’ll name a sign. it's called hms, the color of the variable feature, but

uh, it's better to show it, of course, and a series of security threads. uh, also with uh, they are visual effects, uh, they are unique, not not repeatable or there simply not repeatable in the conditions of uh other productions without knowledge. uh, our know-how, a and uh, we successfully sell these solutions. it doesn't bring us big money. still, the main income. we are selling ready-made banknotes and banknote papers in foreign markets as well, but for this is not classified information. last year. we have sales amounted to 14 billion rubles in export markets. hmm uh, this is, well, there is about a third of uh, a little less than a third. erm, our total revenue export is a very important component for us, and therefore we are following with concern, for example, the

logistical ability to solve logistical issues and so on, and therefore, err, we believe that this is, er, a real success. e and confirmation of what we er find. e, powerful effective security tools that allow you to protect not only russian banknotes, but also banknotes of the whole a number of other countries are like that. thank you very much for the conversation. thank you for your interest. hope you learn something new. hello in russia decades of science and technology