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Russia's terrible invasion

Explain It to Me

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The Russian Central Bank's Assets Have Been Frozen

Russia has been cut off from swift, which is a messaging system that financial institutions use for trading. Hundreds of billions of dollars in reserve money owned by the russian central bank has been frozen. Most of their assets are either treasuries or forex swaps, which are basically sort of assets tied to the valueof dollar versus rouble. It's incredibly difficult for them right now to sell these things and bolster its currency.

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