Russia is enthusiastic in the face of the impending economic and financial crisis

The entire Western sanctions adopted in response to the war in Ukraine are not yet known, its effectiveness is still difficult to measure and already questioned: the famous Russian resilience is compromised. Is it possible? There is no panic in this country, but there is a clear enthusiasm. Its first symptom: Sometimes a long line in front of a dry ticket machine.

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During the weekend, Russians turned to foreign currencies that guarantee security. On Monday, many distributors even gave a limited amount of money, even for rubles. No such movement was observed after the first sanctions already imposed on the war in Ukraine and the annexation of Crimea in 2014. The expected shock could be quite similar to the 1998 shock, which is a traumatic financial crisis in Russia.

The outside row of ATMs in St. Petersburg, Russia, February 28, 2022.

There is another indicator that Russians, almost instinctively, know how to monitor turbulence. That of the dollar and euro exchange rates displayed in the exchange window in bright letters on the street. Historically, it never exceeded the figure of 100 rubles per dollar. On Monday 28 February it rose to 109 rubles and the euro rose to 127 rubles.

Price that changes several times a day

In countries where 43% of the population says they have no savings, prices for basic necessities have already risen over the past year and living standards have continued to decline since 2013. The impact can be catastrophic. Electronic products and automobiles are already skyrocketing. From February 25, Russians flooded electronics stores in anticipation of the crisis. Then I saw the seller change the price several times a day.

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Concerns are still contained in front of the Raiffeisen Bank distributor in the center of Moscow. This bank is not a bank that should be excluded from the Swift communication system, but Pavel P.As says “We have experienced so many shocks that we don’t have to be a little careful.”.. The machine refuses to give more than 10,000 rubles (about 85 euros). “We know that the West imposes sanctions on everything.”Designate this man, about 50 years old.

Sergei Gavri waited three days on February 28, 2022 in St. Petersburg, Russia, before he could withdraw money from an ATM.

This is exactly the line of television, and has taken extensive control of sanctions to condemn new attacks from the West. “The target is people, not oligarchy.Sunday night, blamed star presenter Vladimir Putinov. What we are, just for our Russian name. »» There is no connection to the Ukrainian war, which has almost disappeared in the media.

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