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Forbes: The Bank of Russia is preparing to cancel exchange trading in the dollar and euro

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The Bank of Russia is in the process of developing options for action in the event of termination of exchange trading in the dollar and euro. Information about this appeared on the Forbes website on July 29.

According to the publication, a few months ago, a representative of the Central Bank met with participants in foreign exchange trading, where they discussed the likely scenario of actions if sanctions are imposed against the Moscow Exchange and the National Clearing Center.

As specified, the option of creating an analogue of the Bloomberg news agency is being considered, which, most likely, will begin to form the exchange rate based on the quotes of 10 largest Russian banks.

On June 14, the Moscow Exchange announced that it was suspending trading in the Swiss franc due to anti-Russian sanctions, which Bern joined. It is noted that the fulfillment of obligations under previously concluded transactions continues as usual, and the Moscow Exchange is working with correspondent banks to resume trading.

On June 15, Prime Minister of Russia Mikhail Mishustin spoke about the fact that the Russian economy is gradually adapting to the Western restrictions imposed against it. To a large extent, this is facilitated by decisions taken as part of achieving national development goals until 2030, he explained, and added that the Russian government has included more than 300 measures in three months in the plan of priority actions to support the country’s economy under sanctions.

On May 31, the Institute of Business Ombudsman Boris Titov reported that the majority of Russian entrepreneurs (77%) had successfully adapted to the new economic conditions caused by sanctions against Russia.

On May 12, Russian President Vladimir Putin said that the country is successfully coping with sanctions, and those who impose them are provoking a global crisis. The head of state warned that the “continuation of the sanctions obsession” would lead to “hard to reverse” consequences for the European Union and the world’s poorest states.

On February 24, Russia announced the start of a special operation to protect the civilian population of Donbass. It began against the backdrop of the situation in the region that worsened in mid-February. Then the authorities of the DPR and LPR reported on the increased shelling by the Ukrainian troops, announced the evacuation of the civilian population in the Russian Federation and asked for recognition of independence. On February 21, Russian President Vladimir Putin signed a corresponding decree.

For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.

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