Putin bans transferring currency abroad





The Russian President, Vladimir Putin, It has prohibited this Monday in a decree to transfer foreign currency abroad to defend Russia from Western sanctions for the invasion of Ukraine, which have caused a collapse of almost 30% of the ruble.

For this reason, the president has ordered companies with economic activities within the framework of foreign trade convert 80% of your income into rubles.

The text also prohibits from this Tuesday to carry out “Foreign exchange operations related to the provision by residents in favor of non-residents of foreign currency” and transfer foreign currency to accounts opened in banks and other financial market organizations outside Russia.

Moscow seeks to ensure financial stability

The new western sanctions have put the Central Bank of Russia in the spotlight (BCR) and have included the expulsion of several banks from the SWIFT system. These measures have forced Moscow to pull out its arsenal to ensure financial stability.

Among other actions, the BCR has raised the interest rate from 9.5% to 20% to support and protect the savings of the population.

24 hours – The consequences of sanctions on the Russian economy – Listen now

It has also released the capital reserves accumulated by the banking system for a value of 733,000 million rubles (6,245 million euros or 6,963 million dollars) to consumer loans and mortgage loans not guaranteed.

In turn, it has recommended to financial institutions restructure your clients’ debt instead of imposing penalties or fines and has prohibited brokers from selling foreign securities.

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EU extends sanctions to 26 oligarchs

The European Union (EU) has expanded this Monday the list of sanctioned for the Russian attack on Ukraine 26 oligarchs and businessmen active in the oil, banking and finance sectors. Some of them are members of the Government or high-level personalities and one entity is related to gas.

“With these additional sanctions we address all those who have a significant economic role in supporting the Putin regime and benefit financially from the system,” explained the EU’s High Representative for Foreign Policy, Josep Borrell, in a statement. .

The restrictive measures of the EU, which now apply to a total of 680 people and 53 entitiesinclude a freeze on assets and a ban on making funds available to listed individuals and entities, as well as the ability to enter or transit through the territory of the community club

The owner of Día supermarkets enters the list

The owner of Dia supermarkets, Mikhail Fridmanand the CEO of Rosneftone of the largest crude oil producers, Igor Sechinare some of the names of the sanctioned businessmen, soldiers and journalists.

The list continues with petr aven, another of Putin’s closest oligarchs and one of about 50 who regularly meet with him; like Mikhail Fridmannknown as one of Russia’s top financiers and facilitator of the president’s inner circle.

The fifth sanctioned oligarch is Sergei Roldugin, a businessman who maintains close ties with Putin and who is part of the financial network created by him. the sixth is Alexander PonomarenkoChairman of the Board of Directors of the Sheremetyevo International Airport.

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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