Russia's government will provide 1 trillion roubles (£10.3 billion) in support to "systematically important" banks in the latest attempt to prop up the country's flagging economy.
Finance Minister Anton Siluanov told reporters: "First of all, we will support systemically important banks, so that economic transactions will be provided for. They are the main holders of deposits, the main transactions are carried out in those (banks)."
He added that Russia' central bank would determine which banks were "systematically important".
Vladimir Putin had an embarrassing moment this morning when he inadvertently joked about a stroke victim being drunk.
The incident took place during the Russian president's press conference today when journalist Vladimir Mamtov stood up to ask him about a popular Russian alcoholic drink called Kvas.
Mr Putin interrupted him to say "you've already had yours", implying that Mr Mamatov was drunk.
However Russia Today later tweeted that the journalist had in fact suffered a number of strokes, which explained his halting speech.
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The European Union has adopted tighter restrictions on European investment in Crimea, targeting Russian oil and gas exploration and tourism.
The new restrictions will take effect on Saturday, an official said, and come shortly before leaders discuss the Ukraine crisis and relations with Russia at a summit in Brussels.
Russian President Vladimir Putin says the country's uncertain economic situation has been provoked by "external factors", and believes it may take two years for the country to return to growth.
Speaking at a televised question and answer session in Moscow, he said he believes the country's currency, the rouble - which has recently been in freefall - will inevitably recover.
He also said he was confident Russia had sufficient currency reserves to deal with the uncertainty and said the central bank and government were taking adequate measures.
Putin added the Central Bank's current interest rate of 17% will not last throughout the currency's crisis.
Shops in Moscow were literally stripped bare as Russians try to offload their roubles before they become next to worthless.
The collapse of the currency could also have serious implications for Vladimir Putin's political position, according to one of the country's opposition leaders.
ITV News Europe Editor James Mates reports from Moscow.
Russia's attempt to stop traders selling the rouble by raising its key interest rate by 6.5%, in a bid to stave off inflation and protect the national currency, was unsuccessful today.
ITV News Europe Editor James Mates reported from Moscow where ordinary Russians reportedly did not blame the Kremlin for the rouble's freefall but named the main cause of the currency falling as "oil, sanctions and the wrong policies of the central bank".
Apple says it has taken down its online store in Russia due to extreme fluctuations in the value of the rouble.
It said in a statement it is currently reviewing pricing.