New US sanctions on Russia announced during last week’s G7 meeting, notably on transactions related to the Russia’s Moscow Stock Exchange have forced the Russian Central Bank to halt US Dollar and Euro transactions on the Exchange.
The move comes a week after the Russian Central Bank has kept interest rates at 16% with an over-heating economy and virtually no unemployment with a declining population. Company revenues increased along with salaries along with debt and the money supply increasing. Inflation in Russia is at 6% according to the Central Bank.
Russia’s Central Banker Elvira Nabiullina also admitted that Russia faces the risk of renewed inflationary pressures if Europe and the US tightened export restrictions to Russia. Russia is circumventing European export restrictions by importing through various states including Serbia, Turkey, the United Arab Emirates, the Central Asian Republics, and also China. Russia has also avoided oil sanctions thanks to its ghost fleet and Greek shippers.
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