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Sanctions urge Russians to ask for remittances

Moscow’s invasion of Ukraine has, of course, been criticized around the world, causing multiple sanctions on Russia and tripled interest in remittances. Secure payment Both domestically and overseas.

Sanctions can affect remittances and increase the use of cryptocurrencies in Russia.

These sanctions Tight control Placed in stock market transactions to eliminate Russia from the SWIFT, global brands like McDonald’s have closed some or all of their domestic business. They affect every level of Russian society.

Conducted a traffic flow survey on the Russian page and payment comparison site MoneyTransfers.com We found that the view increased by 285% before the invasion on February 24th and during the aftermath.

“It’s no wonder that the war has caused a surge in interest in sending money to Russia. The Russian economy has been hit by great instability,” said Jonathan Mary, CEO of MoneyTransfers.com.

“Citizens who are already in line outside the store due to panic buying, limited spending capacity abroad, and devaluation of currencies will be afraid of the instability of the banking sector and the investment they may have.” Mary added.

post Sanctions urge Russians to ask for remittances First appeared Financial mirror..

https://www.financialmirror.com/2022/03/27/sanctions-push-russians-to-seek-money-transfers/ Sanctions urge Russians to ask for remittances

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