The situation in Russia and Ukraine has intensified. Yesterday, Russia officially took action against Ukraine to make Ukraine invincible. Earlier, at least 33 countries, including the United States, Japan, and Canada, announced severe punishment for Russia. Just now, Ukraine issued a statement to fight back against Russia.
On the 25th, Ukrainian time, the Central Bank of Ukraine announced that it would ban foreign exchange transactions in the Russian Ruble from now on. This will have a certain impact on the Russian economic sector.
Forex trading is one of the most important links in the international financial market. When the two countries conduct foreign exchange transactions, trade and investment can be carried out normally, and some speculative opportunities can be generated. Some enterprises engaged in international trade can also hedge through foreign exchange transactions to eliminate potential profit losses.
Even before Ukraine issued the statement, Russia responded to the economic "punishment" of many countries. On the 24th, Russian officials said that the Russian central bank will intervene in the foreign exchange market to help stabilize the financial market. In addition, the Russian side also said that if banks in Russia encounter difficulties due to economic "punishment", the central bank will help them in rubles and foreign exchange. Russia has yet to respond to Ukraine's ban on foreign exchange transactions.
It is worth mentioning that among the "punishments" mentioned by Ukraine this time, Belarus is also among them. Belarus is located in the north of Ukraine. As an ally of Russia, when Russia took action against Ukraine this time, Belarus also responded positively and took corresponding actions from the north. This act was condemned by many Western countries, and it naturally became one of the targets of Ukraine's counterattack.
Analysts believe that the ban on foreign exchange transactions will have a certain impact on a country's import and export trade, domestic economy or the amount of international capital investment. Ukraine's counterattack may have some impact on Russia and Belarus, but the extent of the impact remains to be seen.
Wen | Zhao Jinjie title | Zeng Yi | Chen Jiali