Kill shot on the Russian economy

News of the day, Monday, February 28

The Russian economy suffers from the Ukraine invasion. USA and EU have imposed the broadest sanctions in history, Russian stock market, Russian currency, and international relations collapse. The USD/RUB has exceeded the 100.00 level — an all-time maximum. The Central Bank of Russia raised the interest rate to 20% this morning, while it was 4.25% only a year ago. Europe has agreed to disconnect Russia from SWIFT. All foreign reserve assets of the Russian Central Bank ($643 billion) are blocked. CB is insisting it is still capable to support ruble stability. BP got rid of its stack in Rosneft. DPD and FedEx have announced to stop operations in Russia. ECB suggests Sberbank Europe is about to go bankrupt. Russian CB has forbidden foreign residents to sell Russian shares. And many more…

Assault in Ukraine is continued. Kyiv and Moscow are preparing for talks since yesterday — there is a possibility of de-escalation. However, Ukraine president Volodymyr Zelenskiy has stated he has poor expectations of these talks. Anti-war demonstrations are happening all across Russia as well as in other countries.

The price of Brent crude is $98.32, WTI — $95.81, GBP/USD — 1.3374, EUR/USD — 1.1180, and gold costs $1901.00 per ounce.