"I don't have a dollar, I don't know what to do" Impact of sanctions against Russia on citizens

"No dollars, don't know what to do"

Anastasia Stogney (Moscow, Russia), Simon Fraser (London, UK), BBC News Following the invasion of Ukraine, the West has imposed economic sanctions on Russia. The general public is starting to feel the effects. “If I could leave Russia right now, I would, but I can't quit my job,” said Andrei, 31. It will be difficult to pay a mortgage in Moscow now that interest rates have risen. Western countries have imposed economic sanctions on Russia for invading neighboring Ukraine. Like Andrei, millions of Russians are starting to feel the effects. “I want to find new customers abroad as soon as possible and leave Russia with the money I was saving to pay the first payment,” said Andrei, an industrial designer. "I'm frightened here. Some people have been arrested for speaking out against the party's line. I'm ashamed. I didn't even vote for the people who are in power now." Editor's Note: The names of interviewees appearing in this article are pseudonyms for security reasons, and their faces are not included.) Economic War This time, targeting Russia Sanctions are said to be economic warfare. Western sanctions are aimed at isolating Russia and sending the country into a deep recession. Western leaders hope that the unprecedented step will change the thinking of the Russian government. Its impact has reached ordinary Russian citizens. Savings are gone and lives are already falling apart. The sanctions against some Russian banks include banning credit card companies Visa and Mastercard, as well as payment services Apple Pay and Google Pay. Daria, 35, who works as a project manager in Moscow, said sanctions prevented her from using the metro. “I always pay with my mobile phone, but it stopped working. I had other people in a similar situation. They stopped accepting Apple Pay," she told the BBC. "I had to buy a subway card instead." "For the same reason (as with the subway), I couldn't pay with my mobile phone when I was shopping at a store." Following the economic sanctions, Russia's currency ruble fell to a record low against the US dollar on February 28, prompting the Russian Central Bank to more than double its policy interest rate to 20% annually. Trading in Russia-linked stocks remains suspended amid fears of a large number of sell orders. It's hard to believe that the Russian government claims it has enough resources to weather the sanctions. Russia's central bank was concerned about a bank run by the public last weekend and called on it to remain calm. "No dollars, no rubles, nothing!

(c) BBC News