Currency curtain // The wall between the Russian and Western financial markets continues to be completed


Without waiting for feedback on the Central Bank’s advisory report on a new strategy in the financial market, the Russian Federation continued to “push” the market towards devaluation and increased restrictions on cross-border capital transactions. A decree was issued allowing banks to fail to fulfill deposit agreements of legal entities in foreign currency in the event of sanctions. The Central Bank confirmed future protective regulatory surcharges on foreign currency loans and introduced a “quarantine” for arbitrage transactions with the repatriation of Russian shares to the property of residents from the West. The dissonance in regulation between the promotion of imports and the destimulation of currency is becoming more and more pronounced. .

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