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The arsenal deployed by Europe is relatively impressive. There is politics, there is also the economy, with these sanctions against Russia after the invasion. Closing of airspace, being erased from the Swift cog of the international banking system, with consequences that are already being felt in Moscow.
War is no longer just military, it is now monetary. Since Monday, February 28, Russia has been in the midst of a financial crisis, following international sanctions. The ruble unscrews, a historic fall, up to -30% at the height of the day. In front of the exchange offices, the inhabitants of Saint Petersburg are worried. “We’re Heading to Hell”said a woman, worried.
A panic illustrated by endless queues in Moscow. Customers of Sberbank, the first Russian bank, rush to withdraw deposits. To defend its currency, Russia had to double its interest rate, now at 20%, and require companies to convert 80% of their foreign currency income into rubles. Sanctions which could soon be more severe on French soil, with the confiscation of Russian property, assertion by Bruno Le Maire during the day on Monday February 28.