Subject. The article addresses the true position of the Russian financial market.
Objectives. The purpose is to reveal the true position of the Russian financial market in the context of sanctions.
Methods. The study rests on the application of general scientific methods, primarily, the analysis and synthesis of data, and special economic and mathematical methods, like correlation and regression analysis.
Results. The paper established that the true position of the Russian financial market under sanctions is associated with a focus on capital withdrawal to a greater extent by non-financial organizations, at the expense of domestic borrowings through debt securities, and shifting debt to households.
Conclusions. The revealed characteristics of the Russian financial market, describing its true position under the sanctions, enable the expert community to correctly determine its parameters, and the monetary authorities to choose the optimal financial instruments.