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The financial pressure on Russia continues to ramp up.
On Monday, the U.S. announced it was placing even more sanctions on the Kremlin – freezing the assets of the Central Bank of Russia.
And on Saturday, European Commission President Ursula von der Leyen announced plans to cut several Russian banks from the international finance system known as SWIFT.
It’s a decision that global leaders have referred to as a “financial nuclear option.”
But will putting a dent in Russia’s economy stop Vladimir Putin?
On Monday, the U.S. announced it was placing even more sanctions on the Kremlin – freezing the assets of the Central Bank of Russia.
And on Saturday, European Commission President Ursula von der Leyen announced plans to cut several Russian banks from the international finance system known as SWIFT.
It’s a decision that global leaders have referred to as a “financial nuclear option.”
But will putting a dent in Russia’s economy stop Vladimir Putin?
The financial pressure facing Russia
Posted from the1a.org
Finance
Economics
Banking
Russia
Ukraine
Posted 2 y ago
Responses: 1
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PO1 William "Chip" Nagel
"Russian banks are facing runs on deposits and a sharp deterioration in their financial health from sanctions and a falling ruble, analysts said Monday. Capital Economics said the risk of bank runs is building and could force banks to sell assets at depressed prices to meet demand from depositors wanting their cash back."
"Russian banks are facing runs on deposits and a sharp deterioration in their financial health from sanctions and a falling ruble, analysts said Monday. Capital Economics said the risk of bank runs is building and could force banks to sell assets at depressed prices to meet demand from depositors wanting their cash back."
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