FEARS OF CASH RUN HAVE PROMPTED RUSSIA'S CENTRAL BANK TO ISSUE WARNING

  • 27/02/2022

Fears that new financial sanctions will spark a run on Russia's banks have prompted the central bank to issue a calm appeal. It stated that it "has the necessary resources and tools to preserve financial stability and ensure the financial sector's operational continuity."

The assets of Russia's central bank will be frozen, according to the EU, the US, the UK, and Canada. The Swift payment system will also be unavailable to some Russian institutions.

There would be too many people seeking to withdraw money from Russian banks if there was a bank run. After demand for cash reached its highest level since March 2020, Russia's central bank was compelled to raise the quantity of money it delivers to ATMs on Friday.

Related News

Israel PM reaffirms his plan to attack Rafah with ground for ...
  • 12/03/2024
Pakistan ex-PM Imran Khan jailed for 10 years
  • 30/01/2024
ICJ orders Israel to stop genocide acts in Gaza
  • 26/01/2024
Iran bomb blast: More than 100 killed
  • 03/01/2024
Russia-Ukraine war: 14 killed in Russia’s Belgorod in shelli ...
  • 30/12/2023
Russia-Ukraine war: Biggest aerial attack on Ukraine cities
  • 30/12/2023
South Africa launches genocide case against Israel at UN Cou ...
  • 30/12/2023
Pakistan PM declares prohibition on New Year festivities
  • 30/12/2023
Health Ministry of Gaza: 20,057 people dead
  • 22/12/2023
Gaza Health Ministry: Over 15,500 killed in Gaza
  • 09/12/2023
14 dead in a fire at university dormitory in Iraq
  • 08/12/2023
Mount Merapi eruption: 11 hikers dead
  • 04/12/2023