After more than a week of attacks, Russia is already starting to feel the economic weight of its actions against Ukraine. The Russian Central Bank has about $630 billion frozen, which is the estimated value of its international reserves. To curb the population that is running to the banks to try to rescue some money, the Central Bank has doubled interest rates. In this way, it will be very difficult for Russia to stay on its feet financially, even with help from China.
The Moscow Stock Exchange was also closed to contain the fall of shares, which plunged 30% ahead of the dollar. The country was also expelled from the Swift financial system, which links international payments between countries.
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It's already eight days into the attack on Ukraine, in a violent struggle to take the capital Kiev. Russian President Vladimir Putin declared war on February 23 and has already attacked several parts of the country. The estimated number of civilians killed in these attacks so far exceeds 2,000.
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