Dusseldorf Despite Western sanctions against Russia, the war of aggression in Ukraine continues unabated. So far, the measures have not been able to force Russian President Vladimir Putin to give in militarily. And even in economic terms, the sanctions do not appear to have had the impact expected – at least at first glance.
In an interview with host Anis Mičijević, Handelsblatt reporter Mareike Müller explains why full supermarket shelves and a resurgent ruble should not hide the fact that the West’s package of sanctions is likely to cause enormous damage to the Russian economy in the long term.
Also: In the past few months, the euro had lost more and more value compared to the dollar. On Tuesday morning, the two currencies finally reached parity and thus a one-for-one exchange ratio. This was last in October 2002 – the year the euro was introduced as the official means of payment in twelve EU countries.
Handelsblatt foreign exchange expert Jan Mallien talks about the reasons for the collapse of the euro in the new episode of Handelsblatt Today. He also explains why in the current situation even export nations like Germany can hardly benefit from a weak euro, as would be the case under normal circumstances.
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More: The insidious poison of the sanctions: “Russia is becoming the backyard of the global economy”
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