The decree contains a requirement that exporters sell 80% of foreign exchange earnings, in addition, from March 1, Russian residents are prohibited from providing loans in foreign currency to non-residents. The ban is imposed on the withdrawal of foreign currency by residents to their accounts or deposits in financial institutions outside of Russia. It is also impossible to use electronic payment systems that work without opening an account for this.
Russian public joint-stock companies will be limited in the buyback of shares (purchase by the company of its securities from shareholders and their withdrawal from circulation on the stock market): this can be done not earlier than May of this year, and only if the securities fall in price by 20% or more by compared to the weighted average price of such shares for the three months of 2021. Another condition is that the value of the main stock market index calculated by the trade organizer for any three months starting from February 1, 2022 must decrease by 20% or more compared to the value of such an index for three months starting from January 1, 2021.
This decision of Putin was made against the backdrop of Western economic sanctions imposed by the countries of the world on the Russian Federation in connection with the invasion of Ukraine and the start of a full-scale war. Restrictions apply in particular large Russian banks and a number of officials close to Putin and their children. After Russia refused to stop aggression against Ukraine, the EU, US, UK and Canada decided include Putin himself in the sanctions list. In the coming days, some Russian banks will be disabled from the international interbank system SWIFT.
The US Treasury Department imposed additional sanctions against Russia, prohibiting transactions with the Central Bank and the Ministry of Finance of the Russian Federation. This effectively immobilizes any CBR assets held in the United States or by US citizens, wherever located. The US Treasury introduced sanctions against a key Russian sovereign wealth fund – The Russian Direct Investment Fund (RDIF), which is related to the US financial system.
February 28 came into force new package of EU sanctions against Russia because of her invasion of Ukraine. In particular, the EU banned operations related to the management of reserves and assets of the Central Bank of Russia. The restrictions apply to all legal entities or bodies acting on behalf of or at the direction of the Central Bank of Russia.
On February 27, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said that Western countries would block about half of the financial reserves Central Bank of Russia.
On February 28, against the backdrop of the Russian invasion of Ukraine and sanctions against the Russian Federation, the dollar on the OTC Forex market cost more than 113 rubles, the euro jumped to 127 rubles. These are all-time highs.
On the morning of February 24, Russian President Vladimir Putin announced the invasion Russian troops in Ukraine. At about 05:00 Russian armed forces attacked Ukraine from the south, north (including from the territory of Belarus) and east. They started shell Ukrainian positions in the Donbass, launched rocket and bomb strikes on a number of airfields and other military facilities. Since then, the shelling has not stopped. Russian troops attack residential areas, kindergartens And hospitals. According to the Ukrainian side, the Russian Federation applies in Ukraine multiple launch rocket systems “Grad” and “Uragan”.
Ukrainian Foreign Minister Dmytro Kuleba said that Putin started a full scale war against Ukraine, and called on the world to respond.
President of Ukraine Volodymyr Zelensky on the morning of February 24 declared martial lawand at the end of the day general mobilization. He urged Ukrainians not to panic, “do everything you need to support the Armed Forces of Ukraine” and promised that everyone who wants to defend Ukraine will issue weapons.
As of the evening of February 28, the total losses of the Russian invaders – 5.3 thousand people killed and wounded, hundreds of Russian soldiers and officers were captured. At the same time, the losses among the personnel were concealed in the Ministry of Defense of the Russian Federation and they were recognized only on the fourth day of the war. Russian Defense Ministry spokesman Igor Konashenkov said on February 27 that “there are dead and wounded”, but did not specify their number.
During the four days of the war, according to the Office of the President of Ukraine, 352 civilians (16 children) were killed, 2040 citizens (45 children) were injured.
The occupying troops have already approached Kiev. On February 25, the mayor of the capital, Vitali Klitschko, announced that the city entered the defense phase, in some areas shots and explosions are heard. The authorities urged the people of Kiev to stay indoors – at home or in shelters.
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