MOSCOW, August 6 – RIA Novosti. The strengthening of the ruble against the euro has become a “headache” for Western banks, writes Bloomberg.
The publication notes that foreign companies that left Russia suffer huge losses.
Johann Strobl, CEO of the Austrian Raiffeisen Bank, told how his bank’s profits are growing against the backdrop of the strengthening ruble, but for those who have decided to liquidate their business in Russia, the strong Russian currency has become a “headache”.
Companies that decided to immediately leave Russia after the start of a special operation to demilitarize and denazify Ukraine suffered serious losses. In particular, the French credit bank Societe Generale SA confirmed that in the second quarter its pre-tax losses due to withdrawal amounted to 3.3 billion euros.
July 12, 01:14
The head of the Ministry of Finance called the dollar and the euro “toxic” for Russia
Earlier, the British magazine The Economist wrote that the Russian economy is resilient despite “unprecedented sanctions” imposed against it. The head of EU diplomacy, Josep Borrell, in turn, also admitted that the Russian ruble resists sanctions well.
After the start of a special operation to protect Donbass from Ukrainian nationalists, the United States, the European Union and Great Britain imposed sanctions against Moscow. Many states have announced the freezing of Russian assets, and calls to abandon energy carriers have become louder. These measures dealt a serious blow to the West – they provoked a fuel crisis and led to an increase in food prices.
Vladimir Putin said that the policy of containing and weakening the country is a long-term strategy of the West, and sanctions have dealt a serious blow to the entire global economy.
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Translation by RJ983
Disclaimer: Via RIA Novosti – Checked