Are sanctions on Russia working?
The Real Story
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Is There a Bank Run in the First Weeks of War?
The sanctions that came in the first week of war, the fees of the foreign reserves, they were truly unexpected. This was in a real bank cron it was the collapse of currency in the first weeks of war. Central bank managed to contain the bank crown and the depreciation of the currency weeks later. But what we realize is that if the goal of sanctions is a full scale financial crisis, well that doesn't happen if a country runs a current account surplus and a budget surplus.
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