Sanctions spark a vicious circle for the Russian economy
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The Russian central bank has become a pariah in the international financial system. — © EPA-EFE
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A ban on transactions with the Russian central bank, foreign reserves that are ‘frozen’, Russian banks that are banned from international payments and the ruble that is in free fall. You bet the western sanctions hurt Moscow. And the ordinary Russian will feel that too.
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Kristof Simoens and Arnout Gyssels
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