Comment on Moscow stock exchange stops trading in dollars and euros
BrikoX@lemmy.zip 5 months agoI’s not as bad as some western media reported, but it’s not great. They aggressively used their cash reserves and low interest rates to combat the sanctions, so it looked that they were immune, but it’s catching up to them now with interest rates at 16%. And while they were able to circumvent the sanctions with aid of India and China, they were forced to sell their oil & gas for cheap, while OPEC cartel raised the global price. Now Russia wants to make China make them pay full price, but they have no way to demand it if they want any revenue at all.
Kualk@lemm.ee 5 months ago
They held 8.5 to 9.5 range for just about 1 year. Before and after it was 16-20% range.
Source: base.garant.ru/10180094/