Russia Is Selling Dollars because of Weak Ruble http://www.forexconspiracyreport.com/russia-is-selling-dollars-because-of-a-weak-ruble/ The problems caused by the annexation of Crimea are coming home to roost in Russia as the Bank of Russia will prop up the ruble. According to Central Banking dot com, Russia has more than quadrupled the amount of dollars it is prepared to sell to maintain the value of the ruble at a given level. It unveiled the move yesterday, hours after it surprised the markets with a 150 basis point hike to its key policy rate aimed at calming foreign exchange volatility. The Bank of Russia will now spend up to $1.5 billion before it shifts the target band for the ruble against a basket of $0.55 and €0.45, compared with the previous trigger of $350 million. The central bank was yesterday seen spending up to $12 billion to stabilize the value of the ruble, with international investors taking fright at growing tensions between Russia and Ukraine, and a threat of international sanctions against Russia. And Trading in Rubles instead of Dollars and Euros Online Pravda notes that Russia will be taking other steps in response on mounting Western sanctions in the aftermath of the annexation of Crimea by the Russian Federation and continued Russian troop buildups on Ukraine’s Eastern border. Now it seems that in response to Western sanctions Russia will switch to Ruble settlements in trade with the West. In response to economic sanctions of the West, Russia intends to switch to rubles in its deals with European partners instead of dollars and euros. State-owned export companies are said to be the first on the line to do it. Pravda quotes Adrei Kostin, the head of the state owned VTB Bank. Kostin said that this would “reduce dependence on the vagaries of the US and EU authorities” that continue to threaten Russia with sanctions. “It has been a month already when senior Western executives call to isolate Russia, by virtually destroying the Russian banking sector with the use of modern “nuclear weapon” in finance – dollar settlements,” said Kostin. Coincidentally, officials with the Russian Foreign Ministry said that U.S. bank JPMorgan Chase blocked a dollar transaction from the Russian Embassy in Astana to insurance company Sogas. The transfer was blocked “under the pretext of anti-Russian sanctions.”

1. Russia Sells Dollars
because of Weak Ruble

2. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
The problems caused by the annexation of
Crimea are coming home to roost in Russia
as the Bank of Russia will prop up the ruble.

3. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Russia has more than quadrupled the
amount of dollars it is prepared to sell to
maintain the value of the ruble at a given
level. It unveiled the move yesterday, hours
after it surprised the markets with a 150
basis point hike to its key policy rate aimed
at calming foreign exchange volatility.

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5. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
The Bank of Russia will now spend up to
$1.5 billion before it shifts the target band for
the ruble against a basket of $0.55 and
€0.45, compared with the previous trigger of
$350 million.

6. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
The central bank was yesterday seen
spending up to $12 billion to stabilize the
value of the ruble, with international
investors taking fright at growing tensions
between Russia and Ukraine, and a threat of
international sanctions against Russia.

7. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
And Trading in
Rubles instead of
Dollars and Euros

8. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Online Pravda notes that Russia will be
taking other steps in response on mounting
Western sanctions in the aftermath of the
annexation of Crimea by the Russian
Federation and continued Russian troop
buildups on Ukraine’s Eastern border.

9. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Now it seems that in response to Western
sanctions Russia will switch to Ruble
settlements in trade with the West.

10. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
In response to economic sanctions of the
West, Russia intends to switch to rubles in
its deals with European partners instead of
dollars and euros. State-owned export
companies are said to be the first on the line
to do it.

11. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Pravda quotes Adrei Kostin, the head of the
state owned VTB Bank. Kostin said that this
would

12. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
"reduce dependence on the vagaries of the
US and EU authorities" that continue to
threaten Russia with sanctions. "It has been
a month already when senior Western
executives call to isolate Russia, by virtually
destroying the Russian banking sector with
the use of modern "nuclear weapon" in
finance - dollar settlements," said Kostin.

13. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Coincidentally, officials with the Russian
Foreign Ministry said that U.S. bank
JPMorgan Chase blocked a dollar
transaction from the Russian Embassy in
Astana to insurance company Sogas. The
transfer was blocked "under the pretext of
anti-Russian sanctions."

14. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Running Out of
Dollars

15. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
There is a distinct flaw in the Russian
strategy of selling dollars for Rubles to prop
up their currency.

16. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
They need more dollars!

17. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
According to the Wall Street Journal,

18. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Russia's finance ministry will resume buying
foreign currencies to replenish the rainy-day
reserve fund in the coming days…

19. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
This action comes on the heels of a
concerted effort to support the Ruble by
selling dollars and euros to purchase
Rubles.

20. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Why Is this Happening?

21. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Russia is selling dollars because a weak
Ruble because its president decided to take
over part of a neighboring country.

22. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
President Vladimir Putin of the Russian
Federation believes that the breakup of the
former Soviet Union was the worst disaster
to ever befall his country.

23. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
That statement is made by someone who is
fully aware of the millions killed in purges in
the Stalin era and in the more than twenty
million Russians who died during the
Second World War.

24. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Political unrest in neighboring Ukraine
resulted in the ouster of a pro-Russian and
corrupt president.

25. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Mr. Putin took advantage of the resulting
chaos and orchestrated a takeover of
Crimea, part of Ukraine that borders the
Black Sea.

26. http://www.forexconspiracyreport.com/russia-is-
selling-dollars-because-of-a-weak-ruble/
Now the West is ramping up economic
sanctions that threatening to isolate Russia
and drive the ruble into oblivion.