China News Agency, Moscow, March 1, Question: Beyond Ukraine, Russia is facing "another war"

　　China News Agency reporter Tian Bing

　　In response to Russia’s military actions in Ukraine, the United States and the West have recently announced a series of sanctions against Russia, including excluding some Russian banks from the Society for Worldwide Interbank Financial Communication (SWIFT) system and restricting the Russian central bank. .

Russia, on the other hand, has introduced a series of countermeasures.

A war without the smoke of gunpowder has begun.

　　On February 28, the U.S. Treasury Department issued a statement saying that it would freeze the assets of the Russian Central Bank in the United States and prohibit Americans from conducting transactions with the Russian Central Bank, the Russian Federation State Wealth Fund and the Russian Ministry of Finance.

This means that the assets of the Russian central bank in the United States or assets controlled by Americans will be frozen.

　　It is reported that the Group of Seven (G7) finance ministers and central bank governors have agreed to immediately impose a new package of economic and financial sanctions on Russia.

　　On February 28, Russian President Vladimir Putin held a special meeting to discuss economic and financial issues and signed a presidential decree on special economic measures against unfriendly actions by the West.

Its contents mainly include the prohibition of Russian individuals and enterprises to repay debts in foreign currencies, or to transfer foreign currencies to their foreign accounts; 80% of the foreign exchange earnings obtained by Russian exporters from January 1, 2022 will be forced to settle foreign exchange; allow listed companies Under certain conditions, share repurchases by the end of the year.

　　On February 28, the Central Bank of Russia announced that it would raise the benchmark interest rate to 20%.

A day earlier, the Central Bank of Russia had announced a series of financial stability measures to reduce the impact of the latest Western financial sanctions on Russia's financial sector.

　　On February 28, Nabiullina, Governor of the Russian Central Bank, issued a statement after the meeting of the Board of Directors of the Russian Central Bank, saying that Russia's continuous development of domestic financial infrastructure can ensure its "uninterrupted operation".

The Financial Information Transmission System (SPFS) developed and operated in Russia can replace the SWIFT system within the territory, and foreign participants can also connect with the SPFS system.

The national payment card system can currently handle payment card transactions in Russia normally, and international payment cards issued by sanctioned banks can also be used normally in Russia.

Russia will take all necessary measures to maintain financial and price stability, she said.

　　On March 1, the Central Bank of Russia announced that the Moscow Stock Exchange would not resume stock trading on that day.

The Central Bank of Russia also decided that until March 5, the Mozambique will not resume trading in the stock and derivatives markets. The central bank will decide whether to open transactions according to the development of the situation, and only open foreign exchange and currency markets.

A day earlier, at the initiative of the Central Bank of Russia, the Mozambique for the first time cancelled stock and derivatives market transactions to stabilize the Russian financial market.

　　According to a report by the TASS news agency on March 1, Russian Prime Minister Mishustin issued an order to the Ministry of Finance, deciding to allocate 1 trillion rubles from the state welfare fund to buy shares of sanctioned Russian companies.

The order was signed on February 26.

Mishustin also said that a draft order on temporary restrictions on foreign companies exiting Russian assets has been drafted.

These measures are planned to be used in response to sanctions by Western countries.

　　On the morning of March 1, a reporter from China News Agency came to a bank near the center of Moscow and found that the number of customers did not increase much compared to usual.

The duty manager said that the current banking business is normal.

　　That afternoon, the reporter found at another bank in Moscow that there was a queue in front of the bank's ATM machine.

The number of customers in the banking hall was significantly higher than usual, and everyone was waiting to get a number through the bank's number calling machine.

Business at the exchange window is noticeably busy.

Within an hour of the reporter's waiting, on the real-time display of foreign exchange and precious metal ratios in the lobby, the exchange rate between the US dollar and the ruble has changed from 96.54 to 97.54, and the exchange rate between the euro and the ruble has changed from 107.15 to 108.26.

　　French Finance Minister Le Maire said in the media a few days ago that European countries plan to launch a "full-scale economic and financial war" against Russia to exacerbate its economic collapse.

He claimed that the West wanted to "attack the heart of the Russian system" and that the Russian people would "pay" for the consequences.

However, the French finance minister also acknowledged that while the sanctions on Russia were "very effective", they could also have a negative impact on the EU.

He said the EU was "ready to pay the price".

　　Commenting on Le Maire's remarks, Medvedev, deputy chairman of the Russian Federal Security Council, warned that economic wars in world history often escalate into real wars.

(over)