The decision to lower a number of reserve requirements was announced by the Russian central bank late Wednesday evening, Moscow time. According to the statement, the measures taken will lower banks’ reserve liabilities by 2.7 trillion rubles, ie around US $ 27 billion at current exchange rates, “” reports. The decision will come into force on Thursday.
Huge lines at ATMs. Russians withdraw money
In recent days, Russians have been standing in long lines in front of ATMs to withdraw cash. and Europe imposed on some Russian banks, cutting off their access to the dollar and other reserve currencies.
“Lowering the reserve requirement could reduce the risk of a devastating ‘run’ on Russian banks,” says The Wall Street Journal. Earlier, Russia’s central bank took other emergency measures, including sharply increasing key interest rates and tightening controls to stem the flight of capital from Russia.
You can read more about the sanctions imposed on Russia on the home page
The European Union will cut off Russian banks from the SWIFT system
The European Union decided on Wednesday to cut off seven Russian banks from the global SWIFT financial settlement system. The decision of the EU countries entered into force with its publication in the Official Journal. The international company SWIFT has already announced that it is ready to disconnect as soon as such a decision is made.
VTB is the second largest bank among the seven banks subject to sanctions. There is no, however, the largest Sberbank and Gazprombank. Officials in Brussels explain that it was about maintaining transactions in the energy sector, because some countries are dependent on supplies from Russia. The acquisition of seven Russian banks also has an additional 10-day grace period. This transition period, in turn, has been agreed to prepare European banks for change, as EU officials explain.
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The Russian war against Ukraine continues. There is information about houses destroyed, wounded and killed. Needs are increasing hour by hour. That is why Gazeta.pl joins forces with the Polish Center for International Aid (PCPM) Foundation to support humanitarian aid for Ukrainians and Ukrainians. Anyone can join the fundraiser by making a deposit through or on the website. More information in the article:
Source: Gazeta
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