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by KptMarchewa 1489 days ago
Not sanctions, but Russian regulation. From your link:

>The Bank of Russia more than doubled the benchmark interest rate to 20%, a 19-year high, on Feb. 28 and also imposed capital controls, including a ban on foreigners’ selling of securities. Nabiullina said decisions to suspend some regulatory requirements amounted to a capital boost for banks equivalent to 900 billion rubles ($8.7 billion). Putin banned all Russian residents from transferring foreign currency abroad, hardening capital controls.
1 comments
lotusmars 1489 days ago
Interest rate is already back to 14%[1]. Russian economy recovered super fast. Ruble is already stronger than before war (around 64 RUB for USD). Basically sanctions are a joke made for Biden to shout once before American public attention shifts to Amber Heard trial or some other spectacle of the day.

[1] https://www.reuters.com/business/finance/russian-central-ban...

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TAKEMYMONEY 1489 days ago
If you read your article you'll learn they are cutting the interest rate back because of sanctions (to mitigate the effects), and inflation is still soaring. 20% is not sustainable, analysts have seen this coming as Russia tries to avoid a recession, in fact the drop by 300 bps was larger than predicted.
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KptMarchewa 1489 days ago
>Ruble is already stronger than before war

This is completely irrelevant if you can't sell it for USD.

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lotusmars 1487 days ago
Where do you get this? You can buy USD officially at most banks. Tinkoff for example sells it for 67, which is once again even lower than before war.
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