Russian central bank loses access to foreign assets and the banks and the population will feel that

The ruble will be hit hard on the international markets on Monday morning. A consequence of the European sanctions: in addition to being banned from the international payment system Swift, Commission President Urusula von der Leyen also announced that the foreign currencies of the Russian Central Bank will be frozen. “That way, Russia loses a strong leverage to support the ruble.” And because of the other sanctions, that may become very important.

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