Forefront of the war with Russian-backed rebels in Ukraine


Reuters

Sberbank imported $ 5 billion in foreign cash in December-ACRA estimate

The dollar traditionally dominates such imports, and like other currencies, many Russians prefer to hold it as a hedge against a decline in the value of the ruble or an increase in inflation. Both of these are potential consequences of foreign sanctions. Valley Piven, senior director of ACRA, told Reuters that calculations based on a monthly technical report submitted by banks to the central bank of Russia showed that they also imported $ 2.1 billion in foreign banknotes in November. Sources have suggested to Reuters that the United States is considering new sanctions against Russia, separating some major banks from dollar transactions and reducing their ability to meet their dollar-denominated obligations.

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