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Echo of the war in Ukraine – the impact on the Russian people?
Registration:
March
07, 2022,
10:19
PM
Russia’s sanctions have made it difficult for the public to buy food. This collection analyzes its background …
Russia’s sanctions have made it difficult for the public to buy food. This collection analyzes its background … Following Russia’s invasion of Ukraine, the United States, Britain and other Western nations have continued to impose various sanctions on Russia. Credit card companies Visa and MasterCard have suspended operations in Russia following a ban on major Russian banks and financial institutions. This has made it impossible to use most credit and bank cards at Russian stores and ATMs. The Central Bank of Russia has said that credit and bank cards issued by Russian banks will not be affected. Russian banks plan to issue credit and bank cards in the future through China’s Union Bay program and Russia’s Mir exchange program. The value of the Russian currency, the ruble, has fallen sharply by 25 percent in the past two weeks as a result of sanctions. Thus many people are trying to buy and store large quantities of food items and grains and then sell them on the counterfeit market after they become expensive. Following this, the Russian Federation of Chambers of Commerce decided to impose a cap on the sale of food items per person in grocery stores and supermarkets.