/Update/

MOSCOW, August 23. /TASS/. VEB.RF made the transition to rubles and does not make transactions in dollars and euro, CEO of the Russian state development corporation Igor Shuvalov said at the meeting with President Vladimir Putin.

"It is a known fact that customers often have concerns regarding secondary sanctions. We managed to tackle this problem using information delivery mechanisms furnished to us by the Central Bank. We often provided services in dollars and euro, especially where it was an export and import transaction. We shifted to ruble transactions exclusively. We also use other currencies of friendly states but we do not perform transactions with the euro and the dollar anymore," Shuvalov said.

VEB provided guarantees to commercial banks amounting to 1.35 trillion rubles ($22.6 bln) in favor of commercial banks on the instruction of the President, the chief executive said.