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Russian economy today: the Ruble falls by 30%, but the Russian bank says it can handle it
After the new sanctions against the entire finances of the Russian conglomeration, it suffers and declines in the week while the war continues
We have seen how since the conflict between Ukraine and Russia re-entered the table, the latter has seen its economy "subtly" slowed down by the financial measures deployed by most world leaders.
However, we did not believe that the sanctions and threats against Russia would be so aggravated, but every day that the war in Ukraine continues, things get worse for Vladimir Putin and his people.
What are the measures that the allies are taking to unbalance Putin? Are we seeing the dismemberment of a world power? Will business in Europe be affected? How is Russia handled now? There are many unknowns that we will look for answers in the following article.
Russia's currency is worth no more than $0.0119
The ruble is not nearly the most valuable and accessible currency, but the Russian economy was positioned somewhat "in a good way" in recent years.
Although compared to its neighboring countries it was classified as "poor", the Russian Federation is a great world power in oil and gas exports, that brought good income, but this is being sought to stop.
As has already been assumed, finances in the country have been gigantically exacerbated in recent weeks, as it was verified that the threats from the United States, the European Union and the United Kingdom did not remain just words.
Moreover, all these high-ranking leaders have pressured other countries to also place sanctions on Russia. In order to isolate it financially, so that it cannot afford a prolongation of the war against Ukraine.
The massive action triggered the reaction to the ruble, increasing its inflation to 30%, graphic value of exactly $0.0119. A totally depressing and shameful value for the Russian motherland.
The three courses of action taken by the allies against the Russian economy
The US, Britain, the European Union and NATO allies are heavily committed to tightening the noose around Russia's neck. It really discredits another great war that destroys the world and its population.
Here we show you the measures that the allies are using to unbalance Putin and stop his ability to continue with a war.
The first route taken is economic sanctions, emphasizing the most important financial entities in Russia, mainly Sberbank and VTB, which control 60% of the Russian economy.
In second place, in the list of actions of the allies, we find the measure most awaited by the whole world: the disconnection of some Russian banks from the SWIFT system.
For the other countries it would also affect the total disconnection of Russia in the SWIFT system, for this reason only some banks are offline and others with various restrictions.
These financial measures were created to affect Putin but without upsetting and disrupting the world economy. A huge challenge for the allies will be to maintain this control without affecting themselves.
Finally, there is the less shocking fact, but the most devastating for the financial system of the Russian federation, blocking the Russian central bank.
This means that the country's accumulated reserves are there, but they cannot be manipulated by the highest bank in Russia or by Putin. Let us remember that these international financial measures have only been imposed on countries like Iran, Venezuela and North Korea.
The Russian central bank claims to have enough control before these situations
The response of the central bank of Russia to these measures by world leaders was totally calm, its president stated that there is nothing to worry about, stating that Russia has "sufficient control in these scenarios."
Statement that at this time, they are wobbly, because they do not have assets to support the Russian sector, generating an increase in the country's inflation, which was already bad before the start of the war in Ukraine.
Which limits the reality that we are all witnessing the destruction of the financial system of one of the most talked about economies in all of history.
Which brings us to the expected question: How are Putin and his Central Bank managing at the moment?
Vladimir Putin, together with his central bank, have taken rapid measures to reduce the economic impact of all the time bomb that the international community has launched.
The central bank has raised interest rates from 9.8% to 20% to increase the attractiveness of the ruble, prohibits international transfers and closes its stock exchange so that the results do not have a public index.
In addition to all these limitations towards their own community, it also forces borrowers to sell 80% of their foreign currencies, to stop the power of the dollar and the euro in their territory.
For now this is the entire update on Russia's financial situation in the face of the war with Ukraine, we will be reporting any changes in these days.
