US Sanctions Cause Financial Panic in Russia, Potential Shift to Chinese Yuan Trading Discussed

In this episode of The PDB Afternoon Bulletin:

• The U.S. unveiled some 300 new sanctions targeting Russia’s wartime economy on Wednesday, a move that caused Russia to immediately suspend trading in dollars and euros on the Moscow Exchange and sent panicked Russians scrambling to trade in their rubles for American currency.

• The Biden administration is preparing to sign a 10-year bilateral security agreement with Ukraine at the G7 summit in Italy this week. We’ll break down the details and what it all means for the ongoing war in eastern Europe.

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