Sputnik International By Sputnik International
WASHINGTON, June 29 (Sputnik) – Legendary American investor Jim Rogers told Sputnik after the United States imposed sanctions on the Moscow Exchange (MOEX) that sanctions normally do not have much impact except in the short term, and will be eventually lifted.
When asked whether the sanctions against MOEX will affect the investment climate in Russia, Rogers said: “Sanctions – I have learned over history – sanctions usually do not have much effect except short term.”
“When a country has sanctions, of course, many people stay out of that country or do not invest in that country. So this will happen in Russia, it has happened. Many people would not invest in Russia while there are sanctions,” he said. “But I also know that sanctions have never lasted forever, anywhere. So I would suspect that after I don’t know when but after the war sometime, the sanctions will be lifted, and things will go back to normal in Russia. Not now but after the war.”
On June 12, the United States imposed sanctions on the Moscow Exchange, the largest exchange in Russia, as part of a new package of restrictive measures against the country.
On the same day, MOEX said it was halting trading in dollars and euros starting June 13.
Starting June 13, the Bank of Russia began setting the exchange rates for these currencies based on reporting data from credit institutions and the results of interbank conversion transactions in the over-the-counter FX market as of 15:30 Moscow time on business days.
The Russian central bank is able to ensure stability in all markets, Kremlin spokesman Dmitry Peskov said.
Asset Seizure Undermines US Dollar
The seizure of Russian assets by the collective West is a wrong move but it almost always occurs in a time of war, renowned US investor Jim Rogers told Sputnik.
Earlier in June, the Group of Seven (G7) countries agreed during their summit in Italy to provide at least $50 billion to Ukraine by utilizing revenues generated from the interest on Russia’s $325 billion in assets frozen in the countries of the collective West…
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