Putin Prohibits Foreign Currency Shipments From Russia

Russian President Vlademir Putin has issued a directive prohibiting foreign currency shipments from Russia in amounts greater than $10,000 as of Wednesday 2 March according to Kremlin’s statement.

As the Western sanctions aim to cripple the Russian economy, this latest move could be a sign that Putin is concerned.

The Western nations hope that the population of Russia will not tolerate the subsequent die ramifications of sanctions to the local economy and living standards, forcing an uprise that could lead to the decapitation of their own leader.

It is risk-off in markets on Tuesday with safe-haven buying continuing as investors move away from risk assets on the turmoil following Russia’s invasion of Ukraine.