Source Pravda.Ru

Ruble balances continue declining

At the beginning of business today, ruble balances at commercial bank correspondent accounts went down considerably again. Across Russia, this decrease was RUR6.2bn (about $194.610m); in Moscow, ruble balances sagged by RUR6.7bn (about $210.30m). The drop took place for the second day in a row. Over this period, the amount of resources at ruble correspondent accounts tumbled by over RUR10bn (about $313.88m) throughout the country and by over RUR8bn (about $251.10m) in the Russian capital. This morning, ruble balances at commercial bank correspondent accounts were about RUR84bn (about $2.64bn) across Russia and RUR45bn (about $1.41bn) in the Moscow region. The national figure has been the lowest since November 16; the Moscow level has been minimal since October 29, which was almost a month and a half ago. This triggered an increase in ruble credit rates. As of now, they have exceeded the level of Monday, December 9, almost twice and amount to about 5 percent.

When the bill was submitted to Congress on August 2, the reason for imposing the new sanctions on Russia was based on Russia's alleged interference in the US presidential election in 2016, but then something clicked

US sanctions to kill Russian banks and sovereign debt?
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