Talking to the international media and waiting in line to retreat, many Russians fear they will be reminded of what happened when the collapse of the Soviet Union in the early 1990s wiped out the ruble and raised the cost of living.
From its shopping malls Russia Up to the business meeting rooms, the Russians are trying to realize what is happening and the “different economic reality” in the words of the Kremlin. A new reality involving the central bank and its foreign exchange reserves and the imposition of sanctions on the country’s largest banks. He was really shocked and almost panicked at how quickly he felt The impact of the war In the economy of their country but in their own funds, the The Russians are coming to the banks To withdraw their deposits if possible DollarsRun to the malls to become as much consumer goods as they can and find out that they are unable to repay the mortgages as the currency depreciation increases the amount of installments. Opportunity to leave the country.
Speaking to the international media, while waiting in line to retreat, many expressed fears that they might recall what happened in the early 1990s. The collapse of the Soviet Union Dragged the ruble to the heights of the cost of living. A week before the invasion of Ukraine, a dollar buys 70 rubles, yesterday it reached 102 rubles. Speaking to the Financial Times, Elena, 29, stressed that the Russians were “not completely ready, there is chaos, we are afraid the economy will collapse, and we will live on coupons like our parents and grandparents.” Lalia Sandikova, owner of a chain of beauty salons in St. Petersburg, told the New York Times, “Russians are shocked at what is happening, how quickly prices are changing and supplies are being cut off from suppliers.” Speaking to the same newspaper, Anastasia Paranova, who runs a hotel in St. Petersburg, referred to the canceled waves, stressing that “we are all waiting to see what happens next” and describing the situation as “it seems the whole country is suspended”.
Meanwhile, the dollar is depreciating faster as everyone demands a harder currency because they are worried about further collapse of their currency. The British newspaper The Guardian quotes the case of 32-year-old Alexei Presniyako, who rushed to Dinkoff Bank, claiming that he still had dollars in the bank in a related application on his mobile phone. However, shortly after his arrival, the population increased and the dollars ran out. Many fear that the government may convert their dollar deposits into rubles against their will. “It is possible that we are realistic,” Hillary told the Financial Times. Dollars or cryptocurrencies. The number of Russians wanting to leave the country has suddenly increased dramatically. According to figures from the Lovada polling station, 22% of the population wants to leave the country, compared to 50% among young people.
The percentage of the population wanting to leave Russia has reached 22%, while among young people it is close to 50%.
At the Metropolis Mall, the largest shopping center in Moscow, Russians flocked to buy what they could. According to the Guardian, at the M Video Electronics Store, employees are telling people that “the price of the iPhone is still the same, but it’s changing by the second,” and everyone is rushing to catch it. At the same time, the restrictions imposed on Russian banks have caused confusion in making payments, and everyone is looking for money because they can no longer use their cards or pay for subway tickets.
But if there is a shock on the streets of Moscow and St. Petersburg, the atmosphere in the country’s businesses is much heavier. Many medium-sized business owners have found that their business is no longer possible after the invasion. Some of them are thinking of leaving the country. Speaking to the Guardian, one of them, who employs 100 people, said he was preparing to move to Armenia with his family. He wants to declare to his staff that “we are entering a crisis we have never experienced and it’s like flying with a plane without an engine.” His business of handling deals with international companies such as Pepsi and Volkswagen flourished until January. Now these foreign companies are leaving the Russian market. Another, with hundreds of employees in his businesses operating in the tourism, food and beverage sectors, points out that he has experienced many economic crises, most recently epidemic, “but there was always reason to fight to keep his business. Now we see no light at the bottom of the tunnel.
Video source: ABC News, The Telegraph