Russian stock market is continuing to collapse. Yesterday, the US...
Roman Sheremeta 🇺🇸🇺🇦@rshereme
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Jun 14, 2024
~1 min read
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Russian stock market is continuing to collapse.
Yesterday, the US has expanded the scope of its crackdown on foreign financial institutions that do business in russia, including foreign banks that are helping to finance the russia’s war effort.
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Yesterday, the US has expanded the scope of its crackdown on foreign financial institutions that do business in russia, including foreign banks that are helping to finance the russia’s war effort.
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2/ First, it hit russian banks. Russia's central bank has already stopped trading in USD and EUR on Moscow Exchange. Viral videos are showing long lines of russians forming at money changers, trying to buy some USD and EUR.
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3/ Despite tight control over the exchange rate by Kremlin, russian Ruble is collapsing.
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4/ And now, the overall market (or whatever was left of it) is collapsing.