This Monday, the Russian currency fell to historic lows, trading in the morning at 100 items per dollar. This sinking awakened in many Russians, already stressed by the conflict, the memory of financial instability in the 1990swhen millions of people saw their bank savings evaporate in a flash due to the devaluation of the ruble […]
Tag: war in ukraine
Bank of Russia will keep the Moscow Stock Exchange closed at least until tomorrow, March 1
The Central Bank of Russia decided today, February 28, to keep the Moscow Stock Exchange closed until at least tomorrow. The decision was made after the item fell almost 30% after the sanctions imposed by the West on the main Russian banks; as well as by the exclusion of the SWIFT international interbank communication system. […]
Oil escalation reveals shortcomings in energy security
The war between Russia and Ukraine, and its subsequent impact on oil and gas prices, have reopened the debate on energy security on the world agenda. In the region, Colombia awaits Hidroituango in July, a hydroelectric plant with the capacity to cover 20% of the country’s demand; Brazil, Guyana and Suriname enlist the largest hydrocarbon […]
European subsidiary of Russian bank in probable bankruptcy due to significant deposit withdrawals
The European Central Bank (ECB) confirmed the “bankruptcy or probable bankruptcy” of the European subsidiary of the Russian bank Sberbank, one of the largest in the country. This was due to the “significant” withdrawals of deposits in the face of the crisis in Ukraine and Western sanctions. Sberbank Europe AG, based in Austria and subsidiaries […]
European Union reaches political agreement to block transactions of the Central Bank of Russia
The foreign ministers of the countries of the European Union (EU) reached a political agreement this Sunday to block financial transactions with the Central Bank of RussiaThis was announced by Josep Borrell, head of European diplomacy. With that measure,more than half of the reserves of the Russian Central Bank will be paralyzed, since they are […]
Norway’s oil fund to divest $1.3 trillion of investments in Russia
The Norwegian State Global Pension Fund, which invests oil and gas revenues abroad, will freeze and then dispose of its millionaire assets invested in Russia, the Prime Minister of the Nordic country, Jonas Gahr Støre, announced on Sunday. a press conference. Valued at more than $1.3 trillion, the Norwegian-backed investment fund is the largest in […]
OECD formally ends Russia’s accession process
The Organization for Economic Cooperation and Development (OECD) announced this Friday that its Council has decided to formally close the accession process of Russia to the body, which had already been paralyzed in March 2014 due to the illegal annexation of Crimea. The Council also asked the Secretary General, the Australian Mathias Cormann, to take […]
War in Ukraine: effect on financial markets and in Peru
Russia’s invasion of Ukraine has had immediate effects on the world economy. Yesterday, Thursday, February 24, the dollar rose, the shares of the world’s main stock markets plummeted and oil rose above US$100. In this regard, Edmundo Lizarzaburu, professor and researcher of the Administration and Finance degree at ESAN University, indicates that as expected, the […]
The US blocks major Russian banks from its financial system and restricts technological imports
US President Joe Biden announced new sanctions against Russian banks and technology imports following the invasion of Ukraine. One of the latest measures announced by the US president is that the US will isolate the country’s largest bank, Sberbank, from the US financial system. the lender accounts for about a third of Russia’s banking sector. […]
Putin threatens countries that intervene after military attack on Ukraine
Updated on 02/24/2022 12:36 am Russian President Vladimir Putin threatened “those (countries) that may be tempted to intervene” in the military action he ordered against various points in eastern Ukraine, reported the US network CNN. “Now some important words, very important for those who may be tempted to intervene in the ongoing events from the […]