Putin is seeking to ban foreign investors from withdrawing money from the country



Russian President Vladimir Putin recently ordered the withdrawal of more than $ 10,000 from foreign investors. The Russian prime minister said the ban would allow foreign investors to make a more informed decision before selling their assets in Russia.

According to Kevin Desk, reports show that Putin recently signed a decree temporarily banning foreign investors operating in Russia from selling assets and withdrawing more than $ 10,000.

Russian Prime Minister Mikhail Mishustin announced a ban on a government meeting on Tuesday.

The purpose of such action is to stop the flight of capital from this country. Russia faces severe economic sanctions from the United States and Europe following the February 24 invasion of Ukraine. A growing list of Western companies, including British Petroleum (BP) and Shell, have also announced plans to suspend investment in Russia over a military invasion of Ukraine.

Mishustin said the ban would allow foreign investors to make a more informed decision before selling their assets in Russia.

“I was quoted by Reuters as saying:

Under current sanctions, foreign entrepreneurs are forced to take decisions against economic factors under political pressure.

In addition to the ban, the Russian government has been working since Monday to prevent brokers from selling foreign securities on the Moscow Stock Exchange.

The Russian ruble fell nearly 30 percent to less than a cent ($ 0.01) on Monday. The weakening ruble could quickly lead to inflation in Russia and increase economic pressure from sanctions on the country’s financial system as well as its people.

While the Russians are trying to convert their falling rubles into other currencies, the volume of bitcoin trading in the markets leading to the ruble has reached its highest level in nine months.

Putin’s publication seeks to ban foreign investors from withdrawing money from the country appeared for the first time in digital currency.

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