EVOLUTION OF THE FOREIGN EXCHANGE AND STOCK MARKET IN THE RUSSIAN FEDERATION UNDER THE IMPACT OF EU SANCTIONS

Dorina Clichici

Euroinfo, 2023, vol. 7, issue 4, 11-19

Abstract: Starting from February 2022, the military invasion of Ukraine by the Russian Federation has led to the imposition of unprecedented economic, commercial, and financial sanctions by EU and other developed countries, the most important of which is the disconnection of Russian banks from the SWIFT international payment system, the freezing of foreign currency reserves of the Russian Central Bank, but also the freezing of assets held by Russian financial institutions outside the country. Given these sanctions, the objective of the article is to examine their implications for the foreign exchange and stock market of the Russian Federation in 2023 and to analyse how the authorities have responded to mitigate their negative effects. The methodology used to achieve these objectives consists in the quantitative and qualitative analysis of the main indicators of the foreign exchange and stock market in the Russian Federation, during the period January 2022 - August 2023.

Keywords: EU; Russian Federation; foreign exchange market; stock market; ruble exchange rate; IMOEX (search for similar items in EconPapers)
JEL-codes: G18 G21 G28 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:7:y:2023:i:4:p:11-19

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