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Savings are better invested in assets rather than kept in the form of cash in the current geopolitical situation amid tensions between Russia and Ukraine. Grigory Sosnovsky, director of the regional network for working with wealthy clients BCS World of Investments, said this in an interview with RIA Novosti.
“I recommend not to keep the currency in dollars, but to convert it into dollar assets. Serious sanctions may limit the circulation of currency in Russia, and direct sanctions against banks can hypothetically lead to the issuance of foreign currency deposits in rubles at a rate determined by the bank, ”Prime quotes the expert.
In his opinion, inflation remains the main enemy of money, in modern conditions they do not survive. “Money is needed as an object of spending and investment. Now is not the time for cash,” Sosnovsky believes.
At the same time, he points out that the issue of selling or buying currency is very complicated. If a person believes that the situation in the world will be discharged, then dollars should be sold. If it seems that no one will concede, the parties will come to an open military conflict, followed by sanctions and counter-sanctions, then the currency is worth buying.
According to the expert, now a more active sale of the dollar has begun due to the fact that the population understands that such a rapid growth of the currency is based only on the fear of a military conflict in Ukraine. “A Russian citizen is very optimistic (this is the norm for peace of mind in our difficult times), he doesn’t believe in war, which means he expects the dollar and euro to roll back again as soon as the situation starts to defuse,” summed up Sosnovsky.
Recall that back in November-December last year, the world media was filled with the topic of the alleged Russian invasion of Ukraine and the sanctions that should follow. According to the authors and experts of these publications, a sign of “invasion” is the concentration of Russian military equipment in the regions bordering Ukraine. Among the likely sanctions are both the shutdown of the Nord Stream 2 gas pipeline, as well as restrictions against Russian energy companies, and the shutdown of the SWIFT system of “fast” financial settlements.
Source: Rosbalt
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