Russia, UkraineHe has taken the whole world against him with his attacks against . Numerous sanctions have been imposed on the country so far in order to paralyze the Russian economy, which is under intense scrutiny from all over the world.
On the other hand, Ukraine requested support from global cryptocurrency exchanges to freeze the accounts of users living in Russia and Belarus to further devastate the Russian economy.
Crypto exchanges rejected the call, stating that such a practice would harm the innocent Russian people. But many investments against Russia from many other institutions continue to be implemented.
Perhaps the most important of these sanctions Central Bank of Russia SWIFT implementation was blocked. However, the Russian authorities gave their latest statement to the SWIFT network. alternativeThey claimed they had.
Russian state media Tass reported that the Financial Message Transfer System of the Central Bank of Russia (SPFS) is ready for foreign participation. However, this alternative is unlikely to see too much participation from foreign organisations. Because the Russian government is now seen as an almost universal aggressor and many world giant banks and brands are withdrawing from the country one by one.
The Russian ruble, which has fallen significantly over the past few days, is worth less than a cent. This hyperinflationThere are fears that it could lead to an increase in inflation, and in any case, a strong inflation trend is considered certain to occur in the coming months. Many experts believe that the sanctions imposed on Russia by Western countries will only be seen in the coming weeks and months.
Government Endeavors to Take Precautions
While the Russian government is looking for solutions to stop the economic crisis, it has been announced that the Moscow stock market will be closed until March 5 and interest rates have been increased to 20%. However, it is clear that this will not have much effect.