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Russian President Vladimir Putin today spoke harshly on television condemning the “empire of lies” as he called the Western world, as he forbade Russians from sending money abroad, at a time when global sanctions have devalued the ruble and made citizens rush to get money in banks.
In a daily summary of the British Daily Mail, it was said that the ruble had lost 30 percent of its value at the beginning of the day, as it later regained ground stabilizing at only 20 percent loss.
The Russians are reportedly rushing to withdraw money from banks amid the panic created by the war.
The president, meanwhile, mocked Western sanctions during an emergency meeting with economic officials in the Kremlin.
Putin said: “I have invited you on issues related to the economy, namely sanctions. The so-called Western community, the empire of lies, is trying to decide against our country.”
Putin then announced the order to stop sending money abroad, to the extent that it concerns the richest, whose money could destabilize the economy, writes the Daily Mail.
A new round of sanctions has severed US ties with Russia’s central bank, effectively barring Americans from doing business with it, barring Russia from defending its currency, according to the Daily Mail.
A U.S. official says Joe Biden wants to make sure the Russian economy “goes backwards as far as Putin goes with the invasion of Ukraine.”
Russia’s central bank, meanwhile, has reportedly doubled its interest rate from 9.5 percent to 20 percent and refused to open a Moscow stock exchange, according to media reports.
Instead, people lined up in front of ATMs for fear of isolation.
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