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How Russia is already paying for aggression in Ukraine

How the Russian economy reacts to aggression in Ukraine. Photo: UNIAN

How the Russian economy reacts to aggression in Ukraine. Photo: UNIAN

The ruble exchange rate in international trading dropped to a historic low, losing more than 30% of its value against the dollar and the euro. At its peak, the dollar exchange rate on Monday morning, February 28, exceeded 117 rubles, the euro exchange rate—132 rubles. This is a historical high, according to Bloomberg.

The dollar exchange rate in the interbank market Forex as of 06:00 Kyiv time soared by 25.48% and reached 105 rubles per dollar. This exceeds the close of trading on Friday, February 25, by 21 rubles. The euro exchange rate is 127 rubles.

The EU finally approved the decision to freeze the assets of the Central Bank of the Russian Federation. "Transactions related to the management of reserves, as well as the assets of the Central Bank of Russia, are banned," a document published in the Official Journal of the EU reads. About half of the Central Bank's financial reserves will be frozen.

The EU has closed the airspace of the union for aircraft registered in Russia, as well as vehicles owned or chartered by a Russian legal entity or individual.

Sberbank Europe AG, the European division of Sberbank, and two of its subsidiaries in Croatia and Slovenia are going bankrupt or have such a prospect, the European Central Bank warned. The problems arose due to a significant outflow of deposits "as a result of the impact of geopolitical tensions on the reputation."

The Bank of Russia urgently raised the key rate to 20%. The regulator explained the decision by a fundamental change in external conditions for the Russian economy.

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The Central Bank (Bank of Russia) banned brokers from selling securities if foreign companies or individuals gave them the appropriate instructions. That is, foreigners are prohibited from withdrawing from Russian companies.

The Ministry of Finance of the Russian Federation imposed the mandatory sale of 80% of foreign currency in the amount of 80% of revenue for resident companies.

Russian airlines and tour operators began to cancel flights for March to the Dominican Republic, Cuba, Mexico, and Venezuela due to the closure of airspace for Russian aircraft by Canada and the EU countries. Now at least 27,000 tourists are having difficulty returning to Russia.

Fedex and UPS suspend sending parcels to Russia due to the situation in Ukraine.

The Russian national football team can only take part in competitions in a neutral status, without a flag and an anthem, FIFA stated.

Previously, various sanctions against Russia, its companies and individuals were imposed by the United States, the EU, Japan, Canada, Australia, etc.

Recall that on February 24 at 04:50 Russian President Vladimir Putin actually declared war on Ukraine, and Russian troops began to invade the territory of our country.

Since then, The Page has been following the situation and regularly informs about the most important events.

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