Latest sanctions will be harder on average Russians

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🗞 News you should know 🗞

Russians lined up at ATMs on Monday, preparing themselves for higher prices and more economic turmoil after the U.S. and Europe imposed more economic sanctions on their country over the weekend.

Russia’s central bank sharply raised its key interest rate to 20% from 9.5% in a desperate attempt to shore up the ruble and prevent a run on banks. It also said the Moscow stock exchange would remain closed. The sanctions are affecting about 70% of Russian banks, including the top two: Sberbank and VTB, says Paul Christopher, head of global market strategy for the Wells Fargo Investment Institute.



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