The Russian National Settlement Depository (NSD) said on Friday it suspends operations in euros due to the latest EU sanctions, calling the situation an emergency.
The European Union has expanded sanctions against Russia and added the NSD, which Moscow planned to use to service the country’s Eurobonds, to the list of sanctioned entities, an EU document showed on Friday.
For the latest headlines, follow our Google News channel online or via the app.
Last month, Russian President Vladimir Putin said the oil sector was undergoing a “tectonic change,” but claimed Europe would be committing “economic suicide” with its sanctions on Moscow over Ukraine.
By seeking to phase out Russian energy supplies, Europe will only hurt itself, Putin said, urging state officials to use “ill-thought-out” moves by the West to the country’s advantage.
He told an energy meeting that Europe would see higher energy prices and higher inflation as a result of its actions.
Read more:
Putin’s invasion of Ukraine forces Biden to rewrite US security plan
Zelenskyy says ‘victory will be ours,’ on day 100 of Russian invasion
Two Reuters journalists wounded, driver killed in Ukraine: Agency
