Russia and Ukraine have a tense relationship. Western countries have placed a number of sanctions on Ukraine as a result of Russia’s invasion.
The West has imposed a slew of sanctions on Russia for its role in the Ukraine issue. Despite this, Russian President Vladimir Putin praised the initiative, calling it a “special operation” aimed at “de-Nazifying” Ukraine. The West, on the other hand, dismisses this as a phoney pretext for a unilateral war.
Financial fines have been imposed on Russia as a result of the economic restrictions, and international corporations have halted operations in the country, affecting the day-to-day living. The cost of living has risen, job losses are coming, and many financial institutions have been isolated.
Cooking oil, sugar, and other essential items are becoming more expensive
Consumer prices in Russia increased by 2.2 per cent shortly after the sanctions were announced.
Following accusations of hoarding, businesses in Moscow and other cities are banning sales of pharmaceuticals and other commodities.
Russian Finance Minister Anton Siluanov said on Monday that the country will use Chinese yuan from its foreign exchange reserves after Western sanctions prevented Moscow from accessing the reserves’ US dollars and euros.