Sanctions likely to spike Russian inflation, hit purchasing power -Breaking
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© Reuters. FILEPHOTO: The Central Bank in Moscow is covered by a Russian state flag on March 29th, 2021. REUTERS/Maxim ShemetovWASHINGTON (Reuters] – The United States and its allies have imposed harsh economic sanctions against Russia’s central bank, its key resources of wealth, in an effort to push up Russian inflation and reduce Russian purchasing power.
The Russian central bank tried to shift hundreds of millions of dollars to safe-havens ever since the new sanctions were announced.
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