Vladimir Putin issued a directive banning foreign currency shipments from Russia in amounts greater than $10,000 as of March 2, according to news reports citing the Kremlin statement.
As sanctions weigh on the Russian economy, this latest move could be a sign that Putin is worried. The West is hopeful that the people of Russia will not tolerate the further ramifications of the sanctions on the local economy and living standards, forcing an uprising that could lead to the beheading of their own leader.
Meanwhile, markets are in risk-off mode on Tuesday with safe-haven buying continuing as investors move away from risky assets due to the turbulence following the Russian invasion of Ukraine.
Source: Fx Street
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