Sanctions likely to boost Russian inflation hit purchasing power

© . FILE PHOTO: A Russian state flag flies over the headquarters of the Central Bank in Moscow, Russia March 29, 2021. REUTERS/Maxim Shemetov WASHINGTON () – Fierce economic sanctions imposed by the United States and its allies on the Russian central bank and other key sources wealth is likely to push up Russian inflation, cripple purchasing power and plunge investment, US officials said Monday as new sanctions came into effect. Russia’s central bank has tried to move hundreds of billions of dollars into safe havens since the latest sanctions were first announced on Saturday, officials said, adding Monday’s actions will hamper access to funds. Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data. Fusion Media or anyone associated with Fusion Media assumes no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts, and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

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